Logo text
Paramount has agreed not to close its $111 billion takeover of Warner Bros. Discovery until the court decides whether the deal violates antitrust laws.
The studio, in a court document filed on Friday alongside the coalition of states looking to block the merger, said it will hold off on consummating the acquisition until June 2027 or five days after the court issues a ruling on the case, whichever is earlier.
In a statement, a Paramount spokesperson said the agreement provides 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.”
