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Investing.com -- Paramount said Friday it agreed to halt its $111 billion merger with Warner Bros. Discovery until June 1, 2027, or until a federal judge rules on a lawsuit filed by state attorneys general seeking to block the deal.
A federal judge just froze David Ellison's dream of owning Hollywood's biggest studio, and the financial guarantee holding the deal together belongs to his father, whose personal fortune has been in freefall for months.
On July 20, 2026, a California federal judge halted the $110 billion acquisition for at least 14 days, extending legal uncertainty around the merger.
California and 11 other states have filed an antitrust lawsuit seeking to block Paramount Skydance's planned merger with Warner Bros. Discovery. The coalition of state attorneys general argues the deal could reduce competition and harm theaters, television distributors, and audiences. The legal action introduces a new hurdle for NasdaqGS:PSKY in addition to prior regulatory reviews at the federal level. Paramount Skydance, traded as NasdaqGS:PSKY, sits at the center of a consolidating media...
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