Paramount delays $81 billion Warner deal until trial or June 2027

Paramount agreed Friday to postpone closing its planned $81 billion buyout of Warner Bros. Discovery until a court rules on a states’ antitrust challenge or until June 1, 2027. The filing came days after U.S. District Judge Araceli Martínez-Olguín temporarily froze the transaction, finding the states had raised serious questions about whether the deal would substantially reduce competition. Twelve states, led by California, sued last month to stop the merger, arguing it would weaken competition in Hollywood and hurt consumers, workers and artists. New York Attorney General Letitia James called the delay a critical victory.