Paramount Agrees to Push Warner Bros. Merger As Far Back as Summer 2027

Paramount has agreed to push the closing of its pending $110 billion merger with Warner Bros. Discovery as far back as June 1, 2027 as its litigation with a group of 12 state attorneys general and the Writers Guild of America moves to a trial. In a Friday court filing, lawyers for the David Ellison-led media giant said the deal shall “not close, be consummated, or otherwise be completed” and that they will “not take any steps, directly or indirectly, to integrate or consolidate their operations pursuant to the Transaction” until five days after the outcome of a trial or June 1, 2027, whichever is earliest. The filing states that the briefing deadlines and Aug. 3 preliminary injunction hearing have been cancelled and that the motions for a preliminary injunction have been withdrawn. The state AGs and WGA will be permitted to file motions for preliminary injunctions, if necessary, at a later date. The parties will submit a joint statement in each of their respective cases regarding the scheduling of the trial in each matter by July 31. A Paramount spokesperson said the agreement is a “significant win” because the result is “exactly what we have sought from the outset: a direct path to a trial based on the evidence.” “This is the fastest and clearest way to prove that this transaction is good for competition, good for consumers, and good for creators, a conclusion dozens of competition authorities around the world have already reached,” the spokesperson added. “Plaintiffs’ market definitions bear no relationship to the realities of today’s marketplace and cannot withstand scrutiny. We look forward to proving our case at trial.” Representatives for California Attorney General Rob Bonta and the WGA did not immediately return TheWrap’s request for comment. More to come…