Paramount announced Friday that its takeover of Warner Bros. Discovery will be delayed for many months, and potentially well into 2027, due to pending lawsuits by state attorneys general and the Writers Guild of America.
Takeover Delayed
Paramount said in a court filing that it has agreed not to complete the mega-merger until an antitrust trial takes place, or until June 2027, whichever comes first. The announcement was the result of discussions between the lawyers for all the parties involved.
A Paramount spokesperson stated, “Today’s agreement is a significant win because the result is exactly what we have sought from the outset: a direct path to a trial based on the evidence.”
The delay is potentially costly for Paramount, as the company will begin to owe Warner Bros. Discovery shareholders a 25-cent-per-share “ticking fee” each day the transaction remains incomplete after September 30.
Original reporting: KCCI Des Moines — read the source article.
