Event / Economy

Paramount-Warner Bros Merger

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Proposed $111 billion merger between Paramount and Warner Bros. Discovery, including related industry responses and controversies

9 reported locations
Geography of the reported facts
  1. New York, New York, United States
  2. Washington, District of Columbia, United States
  3. California, United States
  4. Oregon, United States
  5. United States
  6. Brussels, Brussels-Capital, Belgium

The story so far

Daily activity

6 articles
0 articles

2026-08-10 to 2026-11-07 · UTC publication dates

Coverage begins 14 Jul, 00:22 UTC

Follow the documented timeline or explore the related reporting.

What happened

The facts
  1. NYC Mayor and Cinema United support state attorneys general antitrust challenge

    New York City Mayor Zohran Mamdani and Cinema United voiced support for the state attorneys general's legal effort to block the Paramount-Warner Bros. Discovery merger, with Mamdani stating the merger does not serve the public.

    1 corroborating report

  2. Ellison attends bipartisan dinner with House Ways and Means Committee on film tax incentive

    David Ellison attended a dinner hosted by House Committee on Ways and Means chair Rep. Jason Smith (R-Mo.) on Monday evening to continue negotiations for a federal film tax incentive. The bipartisan gathering featured 13 Democratic and Republican representatives from the committee. Paramount's chief legal officer Makan Delrahim also attended.

    1 corroborating report

  3. California and 11 other state attorneys general sue to block Paramount-Warner Bros. Discovery merger

    Twelve state attorneys general, led by California Attorney General Rob Bonta, filed an antitrust lawsuit on Monday to block the proposed $110 billion merger between Paramount and Warner Bros. Discovery. The lawsuit argued the merger would create an entertainment giant with increased leverage over movie theaters, cable, and streaming platforms. Arizona, Colorado, Connecticut, Massachusetts, Minnesota, Nevada, New Jersey, New Mexico, New York, Oregon, and Washington joined the lawsuit.

    1 corroborating report

  4. Paramount CEO David Ellison backing federal film tax incentive legislation

    Paramount Skydance CEO David Ellison has been backing a proposed federal film tax incentive bill with support from lawmakers on both sides of the aisle. Ellison has spent at least six months in exploratory meetings for the proposed legislation.

    1 corroborating report

  5. Paramount responds to antitrust lawsuit, defends merger benefits

    A Paramount spokesperson responded to the antitrust lawsuit by stating the company would vigorously defend the transaction and demonstrate the challenge is inconsistent with sound competition policy. The spokesperson argued that delaying the transaction would harm entertainment workers and cost California tens of thousands of entertainment jobs.

    1 corroborating report

  6. Oregon AG withdrew motion to delay merger after Paramount refused compliance

    Oregon Attorney General Dan Rayfield withdrew a motion requesting a 60-day delay to the merger after Paramount declined to comply with the state's investigative demand for the media giant's records. Rayfield stated that Paramount made clear they believed they were above the law.

    1 corroborating report

  7. States allege merger would reduce competition and harm consumers

    The state attorneys general contend that the combined entertainment giant would have increased leverage over movie theaters, cable and streaming platforms, potentially allowing Paramount to raise prices, reduce content output, and make it harder for other studios to reach audiences. The coalition argues this would result in fewer viewing options, higher prices, lower quality content, and less competition across film, television, and streaming services.

    1 corroborating report

  8. Twelve state attorneys general file lawsuit to block Paramount-Warner Bros. merger

    A coalition of 12 state attorneys general, led by California Attorney General Rob Bonta, filed a lawsuit on Monday to block the proposed $110-111 billion merger between Paramount Skydance and Warner Bros. Discovery. The states involved are Arizona, California, Colorado, Connecticut, Massachusetts, Minnesota, Nevada, New Jersey, New Mexico, New York, Oregon, and Washington. The states argue the merger violates the Clayton Act and would harm competition in the entertainment and media industries.

    1 corroborating report

  9. European Commission extends Phase 1 merger investigation

    The European Commission extended its Phase 1 investigation of the Paramount-Warner Bros. merger from July 7, after Paramount submitted concessions to address regulatory concerns. The EC has set July 22 as the deadline to decide whether to clear the merger or refer it for a more in-depth Phase 2 investigation. Remedies discussed included Paramount withdrawing from United International Pictures, an international film distribution joint venture with Universal.

    1 corroborating report

  10. Paramount shareholders approved the Warner Bros. merger

    Warner Bros. shareholders approved the merger with Paramount Skydance, clearing one of the regulatory hurdles for the transaction to proceed.

    1 corroborating report

  11. Merger scheduled to close by end of third quarter 2026

    Paramount and Warner Bros. Discovery agreed not to close the merger prior to July 22, when the European Commission will make its decision. The companies have set a target closure date by the end of the third quarter. If the transaction does not close by September 30, WBD shareholders will receive a 25 cent per share quarterly 'ticking fee.' If the deal fails due to regulatory matters, Paramount will pay WBD a $7 billion termination fee.

    1 corroborating report

  12. U.K. Culture Secretary signals intent to intervene in merger

    U.K. Secretary of Culture, Media and Sport Lisa Nandy informed Paramount and Warner Bros. Discovery that she is 'minded to intervene' in the merger. The U.K. Competition Markets Authority is set to decide whether to clear the merger or launch a Phase 2 investigation by August 7.

    1 corroborating report

  13. Multiple countries and regions have cleared or expired waiting periods for merger

    The merger has received clearance or seen relevant waiting periods expire in Australia, Austria, Canada, China, Kuwait, Saudi Arabia, Serbia, South Africa, Ukraine, Montenegro, New Zealand, and North Macedonia. Foreign direct investment authorities in Spain, Germany, Slovenia, Belgium, Czechia, Italy, France, and Romania have also approved the transaction.

    1 corroborating report

  14. Justice Department approved the Paramount-Warner Bros. merger

    The U.S. Department of Justice approved the Paramount-Warner Bros. merger last month prior to the states filing their lawsuit. The DOJ conducted an eight-month investigation during which state attorneys general participated, sharing information with the agency and attending related depositions.

    1 corroborating report

  15. Paramount Skydance committed to releasing 30 films annually through combined business

    Paramount Skydance has committed to releasing 30 films per year in theaters through the combined business with Warner Bros., saying this would support job growth in the film industry.

    1 corroborating report

  16. Combined Paramount-Warner Bros. entity would control nearly one-third of U.S. cable programming and motion picture industry

    If combined, Paramount and Warner Bros. would control nearly one-third of cable programming and nearly one-third of the U.S. motion picture industry, according to California Attorney General Rob Bonta's office. The merger would combine Paramount Pictures, Paramount+ streaming service, CBS broadcast network, cable channels including MTV, Comedy Central, and Nickelodeon with Warner Bros. Studio, HBO, HBO Max, CNN, TBS, and TNT.

    1 corroborating report

  17. 12 state attorneys general sue to block Paramount Skydance's $110 billion acquisition of Warner Bros. Discovery

    A coalition of 12 state attorneys general, led by California Attorney General Rob Bonta, filed a lawsuit on July 13 in U.S. District Court for the Northern District of California to block Paramount Skydance's acquisition of Warner Bros. Discovery. The states joining the lawsuit are Arizona, Colorado, Connecticut, Massachusetts, Minnesota, Nevada, New Jersey, New Mexico, New York, Oregon, and Washington. The states argue the merger violates the Clayton Antitrust Act and would harm competition, drive up costs for consumers, reduce film production, and harm movie theaters and cable distributors.

    1 corroborating report

  18. Streaming customers filed separate antitrust lawsuit against merger

    In April 2026, five streaming customers filed an antitrust lawsuit against the Paramount-Warner Bros. merger in federal court in California. The case is ongoing, with Paramount's attorneys arguing the customers do not have standing.

    1 corroborating report

  19. U.S. Department of Justice approved Paramount-Warner Bros. merger in June

    The U.S. Department of Justice's antitrust division cleared the $110 billion Paramount Skydance acquisition of Warner Bros. Discovery to proceed in June 2026, determining the transaction was "not likely to result in harm to competition or American consumers" in streaming, pay TV, or movie production and distribution.

    1 corroborating report

  20. Paramount Skydance acquired Paramount Global and received backing from billionaire Larry Ellison

    Movie producer David Ellison's Skydance Media acquired Paramount Global after receiving financial backing from his father Larry Ellison, billionaire Oracle co-founder. The Ellisons then prevailed over Netflix in February 2026 in a bidding war for Warner Bros. after the company's board announced that Paramount Skydance's offer, involving $40 billion in personal financing from Larry Ellison, was superior to Netflix's proposal.

    1 corroborating report

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