Paramount agrees to delay Warner Bros. Discovery merger pending antitrust trial
Paramount Skydance agreed not to close its $111 billion Warner Bros. Discovery transaction until after an antitrust trial under a stipulation with state attorneys general.
Paramount Skydance has agreed to postpone completion of its proposed Warner Bros. Discovery merger until an antitrust trial is held, according to a court agreement reported on July 24, 2026.
The company entered a joint stipulation with a coalition of state attorneys general, agreeing that the $111 billion transaction would not close until five days after the trial or a later point required by the proceedings.
The agreement preserves the planned transaction while allowing the legal challenge to be heard before the companies combine. It does not amount to a final court ruling on the merger’s legality.
The delay places the timetable for one of the media industry’s largest proposed combinations under judicial review and extends uncertainty for the companies, their employees and competitors.
