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In this Just the News article, Misty Severi reports that Paramount has agreed to pause its planned $81 billion merger with Warner Bros. Discovery until next June or until a multistate lawsuit is resolved, following a federal judge’s temporary halt.
- Paramount agreed Friday to delay closing the $81 billion merger with Warner Bros. Discovery until at least five days after a related lawsuit is resolved or until June 1, 2027, whichever comes first.
- A federal judge had already paused the merger until August 17 to allow more time for a lawsuit filed by state attorneys general to proceed through the courts.
- Twelve states, led by California, sued to block the deal, alleging it would “extinguish competition” in Hollywood and reduce choices for consumers.
- Paramount called the agreement a significant win because it creates a direct path to a trial based on the evidence.
- A company spokesperson stated the transaction is good for competition, consumers, and creators—a conclusion already reached by dozens of competition authorities around the world.
- Paramount argued that the plaintiffs’ market definitions “bear no relationship to the realities of today’s marketplace and cannot withstand scrutiny.”
- The federal judge must still approve the postponement plan before it becomes final.
Read the full story:
https://justthenews.com/accountability/media/paramount-agrees-pause-major-warner-bros-merger-until-next-year
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