Paramount Skydance agreed to delay its $110 billion acquisition of Warner Bros. Discovery until as late as June 2027 after a coalition of 12 state attorneys general sued to block the deal. The company filed a court stipulation on July 24 agreeing not to close the transaction until five days after a federal judge rules on the antitrust case or June 1, 2027, whichever comes first. The states, led by California Attorney General Rob Bonta, argue the merger would reduce competition in theatrical film distribution and basic cable channel markets. The deal had previously cleared review by the Department of Justice and European regulators, but state-level opposition has now pushed the timeline far beyond the original September closing target.
Paramount Skydance Corporation Class B Common StockState antitrust challenge delays merger, creating uncertainty and blocking deal.
Warner Bros Discovery IncState antitrust challenge delays merger, creating uncertainty and blocking deal.