The Paramount-Warner Bros Discovery merger has hit a major roadblock. A coalition of 12 U.S. states led by California's attorney general has filed an antitrust lawsuit to block the deal, and a federal judge has temporarily halted it. Paramount CEO David Ellison has threatened to relocate operations from California and offered to sell CNN as a concession, but the lawsuit remains focused on broader market control. A trial is set for March 2027, with ticking fees of up to $7 million daily.
- California Attorney General Rob Bonta is leading a 12-state coalition suing to block Paramount Skydance's $110-111 billion acquisition of Warner Bros Discovery on antitrust grounds.
- A federal judge has temporarily blocked the deal, with a trial set for March 2027.
- Paramount CEO David Ellison has threatened to relocate operations from California and offered to sell CNN as a concession.
- Ticking fees of up to $7 million per day are accruing while the deal is on hold.