NEW YORK (AP) 鈥� Skydance-owned Paramount on Friday agreed to delay closing its $81 billion buyout of Warner Bros. Discovery well into next year, as a judge continues to consider a challenge from 12 states seeking to block the deal altogether.
In a court filing, Paramount said it wouldn鈥檛 close the merger until five days 鈥渁fter the merits determination in these matters鈥� or June 1, 2027. The move arrives just days after U.S. District Judge Araceli Mart铆nez-Olgu铆n granted a temporary restraining order requested by the states to freeze the transaction for several weeks.
Twelve states, led by California, sued to block Paramount鈥檚 pending buyout of Warner last month 鈥� alleging that such a combination would 鈥渆xtinguish competition鈥� in Hollywood and lead to fewer choices for consumers, particularly moviegoers and cable customers. Paramount has called the states鈥� claims meritless and vowed to 鈥渧igorously defend鈥� its merger.
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