Paramount delay leaves Warner Bros. Discovery trapped in $110 billion limbo
Why it matters: If antitrust approvals slip past September, Paramount would owe a ticking fee while WBD remains constrained by the pending deal.
Warner Bros. Discovery is stuck waiting as its planned sale to Paramount drags through antitrust challenges, leaving the media company with fewer strategic options at a pivotal moment for the industry. CNBC reported the deal values WBD at about $110 billion, with Paramount agreeing to pay $31 a share. A group of states led by California Attorney General Rob Bonta moved to block the merger, and preliminary settlement talks appeared to break down this week. WBD can still operate independently under interim covenants in the merger agreement, but the prolonged uncertainty has slowed plans after its earlier push to split the company into separate streaming-and-film and linear-TV businesses.