Paramount pauses $110 billion Warner merger until June 2027

Paramount has agreed to a major delay of its proposed acquisition of Warner Bros. Discovery, pausing the $110 billion media merger until at least June 1, 2027, or until legal challenges are resolved. The agreement, formalized in a federal court filing on July 24, 2026, halts one of the largest consolidations in entertainment history while antitrust lawsuits from a coalition of states and a major writers' union proceed.

The delay stems from legal actions filed earlier this month. A coalition of 12 state attorneys general, led by California, filed suit on July 13, alleging the merger would substantially lessen competition in markets for theatrical film distribution, blockbuster film production, and cable television channel licensing, potentially leading to higher prices and fewer choices. The Writers Guild of America filed a separate lawsuit a day later, contending the deal would limit competition for writers' services, suppress wages, and reduce employment opportunities.

In response to the litigation, U.S. District Judge Araceli Martínez-Olguín granted a temporary restraining order pausing the transaction. The new stipulation, which requires judicial approval, extends that pause....