Paramount Delays Warner Bros. Deal Amid State Antitrust Challenge
The company has agreed to postpone the $8.1 billion transaction until mid-2027 or five days after a judicial ruling.
Paramount has agreed to delay the closing of its $8.1 billion buyout of Warner Bros. Discovery until at least June 1, 2027, or five days after a judge rules on an antitrust challenge brought by 12 states. The agreement was outlined in a court filing Friday.
U.S. District Judge Araceli Martínez-Olguín recently issued a temporary restraining order that paused the transaction for several weeks at the request of the states. California led the coalition of states that filed a lawsuit last month, arguing that the proposed merger would stifle competition in Hollywood and reduce choices for consumers, including moviegoers and cable subscribers.
Paramount has refuted these claims, calling them meritless and stating its intent to "vigorously defend" the merger.