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Paramount Skydance has reached an agreement with a coalition of state attorneys general to postpone the Warner Bros. Discovery merger until after an antitrust trial.
The company entered a joint stipulation in the federal case on Friday afternoon agreeing not to close the $111 billion transaction until five days after a trial is held or June 1, 2027, whichever is earlier.
In a statement, the company said the agreement is a “significant win.”
“Today’s 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,” a Paramount spokesperson said. “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. 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.”
More to come…
English (US) ·