Paramount Skydance Agrees to Delay Merger Until June 2027
The merger is paused as the states challenge it under antitrust law, and Warner Bros. Discovery shareholders could receive delay payments if the case drags on.
- On July 24, Paramount Skydance agreed to postpone its $110 billion acquisition of Warner Bros. Discovery until after an antitrust trial concludes or June 1, 2027, whichever comes first.
- California Attorney General Rob Bonta leads a coalition of 12 states suing to stop the merger, claiming it "would result in higher prices, lower content quality, and fewer movies and TV shows."
- Cinema United CEO Michael O'Leary provided a sworn declaration supporting the states' motion, citing the 2019 Walt Disney Company acquisition of 21st Century Fox as precedent for reduced film output.
- Judge Araceli Martínez-Olguín of the U.S. District Court for the Northern District of California granted a temporary restraining order on July 20, while a "ticking fee" provision compensates Warner Bros. Discovery shareholders for delays.
- Although federal regulators previously approved the deal, state lawsuits have created new legal hurdles; analysts suggest November election results could influence the future regulatory landscape.
16 Articles
16 Articles
Cinema United Chief Michael O’Leary Blasts Paramount Warner Bros. Deal, Endorses Litigation to Delay Merger
The head of Cinema United is reiterating the lobbying organization’s opposition to Paramount Skydance’s proposed merger with Warner Bros., as well as the group’s support of litigation filed by state Attorneys General that has put the deal on hold. In a letter to theater owners on Wednesday, Michael O’Leary, who serves as CEO of Cinema […]
Paramount Skydance's CFO Sold Over 95,000 Shares Amid Delays with Its Warner Bros. Discovery Merger
Key PointsThe disposition involved 95,401 shares at $9.25 per share, representing a total transaction value of ~$882,459.The transaction reduced the executive's direct equity holdings by 33%.Following the transaction, Cinelli retains 225,344 total shares, including 197,232 shares held directly and 28,112 shares held indirectly through an IRA.10 stocks we like better than Paramount Skydance › Dennis Cinelli, Chief Financial Officer of Paramount S…
Several senior positions in Warner Bros. Discovery privately backs the demand from 12 U.S. states to block Paramount Skydance's acquisition and prevent the merger of $111 billion
Why a settlement in the Paramount/Warner Bros. court case could be tough: Q&A with Bloomberg's Lucas Shaw
Larry Ellison backed the deal that let his son David buy Paramount this year. They were set to acquire Warner Bros. Discovery in the coming weeks — but a court challenge from the state of California means all bets are off.Eric Charbonneau/Getty Images for The Hollywood ReporterLarry and David Ellison bought Paramount last year. They were set to acquire Warner Bros. Discovery in the very near future.But a legal challenge from California's attorne…
Paramount Buyout of Warner Bros. Discovery Frozen Until Next Year by Court Order
Just when Hollywood thought it was safe and airtight for an absolute monopoly, the biggest takeover since Disney gobbled up everything in sight and Discovery took control of Warner Bros. has hit a brick wall. The proposed $110 billion buyout of Warner Bros. Discovery by Paramount Skydance, originally on track to wrap up this summer, came to a screeching halt thanks to a federal antitrust lawsuit. California Attorney General Rob Bonta led a coali…
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