Paramount delays $81 billion Warner deal as 12 states press suit
What's next: The companies cannot close before a ruling on the states' challenge or June 1, 2027, whichever comes first.
Paramount agreed Friday to delay closing its $81 billion buyout of Warner Bros. Discovery until a judge rules on a lawsuit by 12 states or until June 1, 2027. The filing came days after U.S. District Judge Araceli Martínez-Olguín temporarily froze the transaction, finding the states had raised serious questions about whether the merger would substantially reduce competition. California is leading the case, which argues the combination would hurt consumers, moviegoers and cable customers by shrinking choice in Hollywood. New York Attorney General Letitia James called the delay a critical victory for workers, artists and families that depend on a competitive entertainment industry.