Paramount's Acquisition of Warner Bros. Closing Delayed Again as Oregon Investigation Adds Pressure
Alina Collins
Paramount Skydance's $110 billion acquisition of Warner Bros. Discovery has been pushed past July 22, as an Oregon antitrust probe and the threat of a multi-state lawsuit turn Hollywood's biggest-ever merger into a legal gauntlet.
Why has the closing slipped again?
Paramount has confirmed it will not close before July 22, roughly a week later than previously expected.
The direct trigger: Oregon Attorney General Dan Rayfield asked a Multnomah County court to delay closing by 60 days so his office can obtain merger-related documents.
This means → state-level antitrust review is now dictating the deal's timetable — Paramount did not choose to slow down; it was forced to match the investigation's clock.
What could a multi-state lawsuit do?
According to CTFN, a joint lawsuit by multiple U.S. states seeking to block the deal is expected to be filed soon.
California is expected to lead, with New York and Pennsylvania also involved; California has already retained a law firm to prepare.
In plain terms = if Oregon's move is "investigate first, decide later," a multi-state suit is "ask the court to stop it now" — a materially higher threat level for the transaction.
What comes next for both sides?
Paramount Skydance has hired Milbank attorney Richard Parker to handle the legal challenges, signaling the company is preparing for litigation.
Whether the deal can close after July 22 depends on how fast the states' legal actions advance.
This reflects a shift: the $110 billion Hollywood merger is no longer just a business negotiation — it is becoming a multi-front legal battle.
Content is for reference only, not financial advice.