** Shares of Paramount Skydance PSKY.O fall 2% to $8.57 and Warner Bros Discovery WBD.O down 1.4% at $26.50 in afternoon trading

** Coalition of states win a pause of PSKY's $110 billion acquisition of WBD on Monday, following their argument that the merger would irreparably harm competition

** California and 11 other states sued to block deal on July 13

** The Writers Guild of America also sued to block the deal last week

** PSKY and WBD both fell nearly 35% and 7%, respectively, this year