Paramount said Friday it will not move forward with its merger with Warner Bros. Discovery until legal challenges to the deal are resolved or June 1, 2027, whichever comes first.
The concession is the latest blow to the $81 billion merger between entertainment giants Paramount and Warner, which is being challenged on antitrust grounds by 12 states and the Writers Guild of America, who argue the deal is anticompetitive.
Paramount’s decision came after a California federal court had granted a temporary restraining order stopping the deal from closing in 28 days. A hearing on a preliminary injunction scheduled for next week — that would have barred Paramount from closing the merger while the states’ antitrust lawsuit proceeds — has been canceled.
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