Paramount to delay Warner Bros. merger until as late as June 2027
Summary
Paramount Skydance will delay its planned merger with Warner Bros. Discovery until as late as June 2027 due to lawsuits from state attorneys general and the Writers Guild of America (WGA). The merger will only move forward after a federal judge decides on these legal challenges.Key Facts
- Paramount Skydance and Warner Bros. Discovery planned a $110 billion merger to combine their studios.
- The merger is delayed until June 2027 or until a judge rules on the lawsuits against it.
- Twelve state attorneys general sued to block the merger, citing concerns it would reduce competition in the film industry.
- The Writers Guild of America also sued, saying the deal would lower pay and job opportunities for writers.
- A judge ordered the merger to be put on hold until the legal cases are resolved.
- Paramount says the merger will increase competition and create more opportunities for writers.
- The delay might cost Paramount money, as they have agreed to pay Warner Bros. shareholders $650 million every three months if the deal is not completed by September 30.
- Attorneys general from New York and California support stopping the merger to protect the industry and consumers.
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