Paramount-Skydance delays Warner Bros. Discovery acquisition to as late as June as shares slide 3%
A U.S. federal judge paused and effectively forced a delay of Paramount-Skydance’s proposed Warner Bros. Discovery acquisition amid a multistate antitrust lawsuit, pushing the timeline to as late as next June. The ruling elevates regulatory risk around large media consolidation, undermining deal certainty and M&A-driven valuation support. Paramount shares fell after the development, and the decision may pressure broader media merger expectations.
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A U.S. federal judge in Northern California has paused Paramount-Skydance’s acquisition of Warner Bros. Discovery, citing concerns it could violate antitrust law and lift film-distribution market concentration to 27%. The lawsuit is led by California Attorney General Rob Bonta and joined by attorneys general from 11 other states. The deal has been pushed back to June next year from an original target of late September, and Paramount’s stock fell 3% on the day.