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Saturday, July 25Saturday, July 254 days · 3 summary articles
Paramount delays 110 billion Warner Bros. deal to 2027 after US states, WGA sue over antitrust
EU clears Paramounts 110 billion Warner Bros Discovery deal with conditions on film distribution
US judge halts 110 billion Warner-Paramount merger after 12 states sue over Hollywood competition
Paramount has agreed to delay its acquisition of Warner Bros. Discovery until June 2027 due to a lawsuit filed by 12 US states and the Writers' Guild of America (WGA). The deal, worth around $110 billion, has been paused while a federal court handles the lawsuit, which alleges violations of antitrust laws.
A federal judge extended a temporary restraining order on Thursday to further delay the merger. U.S. District Judge Araceli Martínez-Olguín wrote in her order that the court found “good cause to extend the TRO on multiple grounds, including the need to resolve two preliminary injunction motions, the parties’ disputes regarding the schedule and the proposed format of the preliminary injunction hearing, and Defendants’ stated willingness to abide by the terms of the TRO for some weeks into the future.”
Paramount may face significant costs due to the delay. The company has agreed to pay additional fees to Warner Bros. shareholders if the deal is not completed by the end of September this year. These payments could amount to approximately $650 million per quarter.
The lawsuit has raised concerns about the editorial independence of CNN, which is owned by Warner Bros. Critics of the Trump administration fear that CNN could lose its independence under Paramount's ownership.
The original deal was supposed to be completed by June 4, 2027. However, if the acquisition falls through, Paramount has agreed to pay a $7 billion penalty to Warner Bros.
The deal was initially between Warner Bros. and Netflix, but Paramount made a higher bid for the entire Warner Bros. Discovery conglomerate, including CNN. The family of Larry Ellison, a known supporter of former President Donald Trump, is behind Paramount.
The European Commission has approved the deal on the condition that Paramount cancels its film distribution partnership with Universal in Europe over the next 13 months.
The separate lawsuits from the states and the WGA have been consolidated into one proceeding. Paramount has called the legal challenge "one of the weakest merger challenges in modern antitrust history," arguing that it distorts settled antitrust law and misrepresents competition in the entertainment industry.
California Attorney General Rob Bonta has stated that any negotiations would have to include structural remedies, not just behavioral promises. "We’re not interested in behavioral remedies — empty promises, self-serving promises, promises that are unenforceable, that won’t be kept, that history shows won’t be kept," Bonta said.
Paramount's opposition brief to both the state attorneys general and the WGA is due by July 27, with replies due by July 30. A preliminary injunction hearing is set for August 3 at 3 p.m. PT.
The deal's delay could cost Paramount up to $1.6 billion, according to some estimates.
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3 further sources not geolocated
Judge Restraining Order Delays Paramount-Warner Bros. Deal Again
gdeltproject.org · about 2 hours ago
Paramount zet overname Warner Bros in de koelkast tot rechtbank zich over deal uitspreekt
de morgen · about 3 hours ago
Paramount zet omstreden overname Warner Bros tot volgend jaar in de ijskast
de volkskrant · about 3 hours ago
European Commission Approves Merger of Paramount and Warner Bros. Discovery
gdeltproject.org · about 3 hours ago
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sueddeutsche · about 3 hours ago
Paramount and Warner Bros merger paused for a year According to court documents, film company Paramount has agreed to pause its acquisition of Warner Bros. Discovery until the end of June next year. Earlier this week, a federal court ordered the merger to be paused while a lawsuit filed by California and 11 other US states is being handled. The plaintiffs argue that the […]
cphpost · about 3 hours ago
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tagesspiegel · about 3 hours ago
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die presse · about 3 hours ago
Paramount Agrees to Delay Warner Bros. Discovery Buyout For Months
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yenisafak · about 5 hours ago
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die zeit · about 5 hours ago
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meduza · about 6 hours ago
Paramount setzt Warner-Übernahme vorerst aus
orf.at · about 6 hours ago
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thejournal · about 8 hours ago
Paramount acuerda postergar su fusión con Warner Bros Mientras se resuelve una demanda presentada por varios estados de Estados Unidos Leer
elmundo · about 8 hours ago
Hollywood-Deal: Paramount setzt Warner-Übernahme nach Wettbewerbsklagen aus
die zeit · about 9 hours ago
Paramount agreed to pause its $110 billion acquisition of Warner Bros until after a federal judge rules on states challenge to the deal, according to court papers reut.rs/4wT6dRg
bluesky_Reuters · about 10 hours ago
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bluesky_Reuters · about 10 hours ago
Paramount agrees extensive delay in Warner Bros deal after states lawsuit Media groups freeze merger until as late as June 2027 as court weighs objections to tie-up
financial times · about 10 hours ago
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expansion · about 10 hours ago
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ars technica · about 10 hours ago