Paramount agrees to delay WBD acquisition to as late as June 2027
Paramount Skydance has agreed to delay its proposed acquisition of Warner Bros. Discovery to as late as June 2027 — a multi-month delay that will ultimately raise the deal price — as the tie-up faces a legal challenge. Last week, a group of state attorneys general led by Californias Rob Bonta sued to block the deal over antitrust concerns. On Monday, a judge reviewing the case issued a temporary restraining order, delivering a near-term delay. Paramount had repeatedly said it intended to complete the transaction by the end of September. Yet in a statement Friday, Paramount called the agreement a “significant win.” “The result is exactly what we have sought from the outset: 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 company said. “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.” Shares of Paramount Skydance fell 3% in afternoon trading Friday. Under the terms of its agreement, Paramount will owe Warner