Paramount’s planned merger with Warner Bros. Discovery will not close before July 22, as European regulators continue their scrutiny and Oregon’s attorney general seeks to delay completion through court intervention. The deal, valued at $110 billion, remains under intense examination amid concerns about its impact on competition and transparency.
Oregon’s Attorney General Dan Rayfield filed a motion requesting a court order to postpone the merger’s closing by 60 days, citing Paramount’s lack of cooperation with document requests tied to the state’s antitrust review. Rayfield’s office accused Paramount of attempting to evade accountability by withholding key information about lobbying efforts, involvement in the U.S. Department of Justice’s approval, and internal strategies known as “Project Warrior.” The motion demands Paramount comply fully within three days of an order and prohibits closing the deal until 60 days after compliance. A hearing is scheduled soon in Multnomah County Court.
Paramount has contested Oregon’s claims, asserting it has provided all relevant records and arguing the requested information does not pertain to antitrust legality or justify delaying the transaction. Beyond Oregon’s inquiry, a coalition of state attorneys general, including those from New York and California, is reportedly considering legal action to block the merger.
The revised timeline for closing aligns with the European Commission’s extended review period. The EU’s regulatory body expanded its initial Phase 1 review deadline, originally set for early July, following Paramount’s submission of concessions addressing competition concerns. Among the remedies proposed is Paramount’s potential withdrawal from United International Pictures, its international film distribution joint venture with Universal Pictures. This move aims to alleviate fears the merger might significantly reduce competition in global film markets.
This merger represents one of the largest media consolidations in recent years, and regulators on both sides of the Atlantic remain vigilant about its impact on the industry’s competitive landscape. The outcome of ongoing investigations and court rulings will play a decisive role in shaping the future of the combined entity and setting precedents for review standards on mega-deals in the media sector.