Paramount-Warner Bros Discovery merger
One page that accretes the verified record as the story develops. Every fact keeps its date and its sources.
Mark Ruffalo accused of antisemitism over Paramount merger remarks
Elizabeth Barcohana is the California Republican Party's Jewish engagement chair.
Hannah Einbinder called the antisemitism allegation against Ruffalo ludicrous.
The Simon Wiesenthal Center sided with Paramount and commended the company for responding.
Paramount merger delay and implications for WBD
The merger agreement includes interim operating covenants allowing WBD to run itself as an independent entity while the deal moves toward closing.
MoffetNathanson analyst Robert Fishman said in an Aug. 5 note that both Paramount Skydance and Warner Bros. Discovery operate subscale streaming services.
WBD announced plans last summer to split into two publicly traded entities: Warner Bros. (streaming and film) and Discovery Global (global linear TV networks).
California AG Rob Bonta cancels Paramount settlement meeting
Bonta said Paramount did not maintain the confidentiality of a meeting held on Friday.
Paramount has previously called the lawsuit a "misrepresentation of competition" and has stood by its decision to acquire WBD.
A trial in the antitrust case is scheduled for March.
Paramount-WBD antitrust challenge chills media M&A
The Fox-Roku deal is expected to close in the first half of 2027.
Paramount filed to compel the suing states to post a $1.88 billion bond to cover the ticking fee and other costs associated with the delay.
Fox Corp. plans to acquire Roku for $22 billion.
“While we do not view [the] Roku transaction as creating meaningful horizontal or vertical concentration concerns, current regulatory developments for [the] PSKY-WBD process indicate that transaction timing can be unpredictable even when the underlying antitrust arguments appear relatively weak,”
California Attorney General cancels Paramount-Warner Bros. Discovery settlement talks
California Gov. Gavin Newsom signaled his support on Friday for settlement talks in the antitrust suit seeking to block the Paramount-Warner Bros. merger.
Paramount said it has not been the source of leaks of its confidential discussions with the AG's office and remains ready to continue good faith discussions.
Bonta accused Paramount of leaking the alleged substance of settlement discussions and misrepresenting those discussions.
Paramount and California AG settlement talks in WBD merger lawsuit
Bonta called off settlement discussions after media reports leaked details of the meetings and potential settlement terms.
Paramount denied being the source of the leak.
If the merger closes, the combined company would have nearly $80 billion in debt.
Paramount Criticizes Mark Ruffalo's Comments Regarding Warner Bros. Discovery Merger
Twelve state attorneys general have brought an ongoing lawsuit seeking to block the merger.
Mark Ruffalo claimed the merger could lead to the elimination of 4,500 filmmaking jobs and 10,000 related positions.
Mark Ruffalo referred to Larry Ellison as a "classic Oligarch" and argued that the merger would consolidate wealth and influence.
“really profoundly scary technologies”
Paramount and California AG office schedule meeting to discuss Warner Bros. Discovery settlement
European antitrust regulators approved the merger deal in July.
The antitrust division of the U.S. Department of Justice cleared the proposed merger in June.
A coalition of 12 state attorneys general filed a lawsuit in July to challenge the proposed $110 billion acquisition.
“[Paramount] wanted to talk about everything except for what this case is about. They want to talk about the streaming market, which we don't allege in our complaint. They want to talk about CNN, which is not a focus of our complaint. They want to talk about the foreign regulators. We want to talk about the three markets that we set forth in our complaint, where we think there's antitrust violation,”
Mark Ruffalo responds to Paramount regarding merger criticism
Mark Ruffalo called the accusation that he is antisemitic "appalling and fundamentally dishonest".
Paramount stated that words like 'genocide' and 'apartheid' applied to a corporate transaction are wrong and cheapen real suffering.
The proposed merger is being challenged by a coalition of 12 state attorneys general.
“really profoundly scary technologies”
Paramount and state AGs negotiations in WBD merger fight
Gavin Newsom suggested that secret negotiations may already be underway.
A coalition of 12 Democratic state attorneys general filed suit to block the merger.
Evan Shapiro wrote that the judge in the case mandated the parties meet to make good faith attempts to settle.
LA Mayor Karen Bass Backs Paramount-Warner Bros. Discovery Settlement
A report from the L.A. Department of Economic Opportunity and CVL Economics projected potential lost wages at $1.26 billion and lost economic value at $2.78 billion if the merger goes through.
Los Angeles Mayor Karen Bass previously opposed the $111 billion Paramount-Warner Bros. Discovery merger unless it avoided job losses.
Karen Bass urged Paramount Skydance and California Attorney General Rob Bonta to reach a settlement on the antitrust lawsuit brought by 12 state regulators.
“Too many productions are at a standstill, which means Angelenos are out of a job and they’re not getting paid. As mayor, I cannot stand by as the job security of thousands of hardworking union members is being put at risk. That is why we are calling on Paramount, Attorney General Rob Bonta and all relevant parties to come together, engage directly and in good faith and work urgently to find common ground and keep our vital industry in Los Angeles.”
California AG says Paramount-WBD lawsuit settlement would require structural remedies
“[Paramount] wanted to talk about everything except for what this case is about. They want to talk about the streaming market, which we don't allege in our complaint. They want to talk about CNN, which is not a focus of our complaint. They want to talk about the foreign regulators. We want to talk about the three markets that we set forth in our complaint, where we think there's antitrust violation,”
Teamsters criticize Paramount over WBD merger promises and threats
Paramount has threatened to leave California if state AG Rob Bonta and others do not strike a deal by October 1.
A trial on the attorneys general's antitrust action has been set for spring 2027.
Larry Ellison is personally backing a big portion of the merger.
Ellison offers theaters contract guarantee for Paramount-Warner Bros. 30-film slate
Ellison has pledged that a merged Paramount and Warner Bros. company will release at least 30 titles per year in theaters.
The CEOs of AMC and Regal have expressed strong support for the Paramount-WBD merger.
The proposed contract guarantee includes exclusive 45-day theatrical windows and a moratorium on distributing movies on streaming services for at least 90 days.
“In my career, ‘G.I. Joe: Retaliation’ met financial expectations, ‘Top Gun: Maverick’ exceeded them, and ‘Terminator: Dark Fate’ fell short. I am proud of all these films, but nobody can dictate what audiences will love,”
UK approves Paramount-Warner Bros. Discovery merger
The US Department of Justice announced in June 2026 that it would not block the Paramount-Warner Bros. Discovery merger.
The total value of Paramount's proposed acquisition of Warner Bros. Discovery, including debt, is nearly $111 billion.
Culture Secretary Lisa Nandy previously stated she was minded to intervene in the merger.
“Paramount has promised to ensure that Channel 5 News maintains its editorial independence, that its editorial direction shall remain entirely separate from CBS News and CNN International, and that CNN International will continue to be available in the U.K. In addition, it has given assurances that the provider of Channel 5 News will continue to have editorial control and independence over news programming and that bona fide licensees will enjoy continued access to the CNN, CBS News and Channel 5 news archives on standard commercial terms.”
Paramount-Warner Bros. antitrust trial set for March 2027
The Writers Guild of America filed a separate suit on July 14, arguing the merger will harm the marketplace for writers.
A coalition of 12 state attorneys general and the Writers Guild of America requested the trial be held in April 2027.
Paramount requested the judge schedule the trial for November.
Ari Emanuel backs Paramount-WBD deal, blasts states' antitrust lawsuit
Emanuel stated he is a lifelong Democrat.
Paramount will pay a ticking fee of $650 million per quarter if the deal is not closed.
Paramount paid $7.7 billion for rights to TKO's UFC.
“The attorneys general don’t get to ignore the platforms that compete every day for audiences, talent, capital and content just because it makes their case harder. Believe me, as somebody who’s in those rooms, every green light, marketing budget and release date is decided against the reality of that broadly competitive environment.”
Paramount and Warner Bros. pause $110bn merger amid legal challenge
California Attorney General Rob Bonta said the agreement is great news for audiences, movie theaters, and creative workers.
Paramount stock touched a 52-week low and closed at $8.21 on the news of the delay.
The legal challenge is led by 12 state attorneys general and the Writers Guild of America.
“It remains our view that this merger is unlawful, and we will continue the fight to block it,”
Judge extends emergency order pausing Paramount-Warner Bros. merger
Paramount seeks three-day hearing as judge weighs preliminary injunction
The WGA legal team objected to Paramount's proposed schedule, arguing that no party has taken any discovery in the case and that Defendants have not produced a single document or piece of data to Plaintiffs.
Paramount proposed a three-day evidentiary hearing to be held the week of August 17 or August 24 as the judge weighs whether to issue a preliminary injunction halting its acquisition of Warner Bros. Discovery.
U.S. District Judge Araceli Martinez-Olguin issued a temporary restraining order on Monday halting the transaction for two weeks and set a hearing for Aug. 3 on a preliminary injunction.
“has already recognized Defendants’ proof ‘creates disputes regarding the facts’ that need to be resolved to fully analyze the competitive effects of the transaction. … An evidentiary hearing would allow the Court to do so regarding critical factual issues including market definition, real-world competitive dynamics, barriers to expansion, and incentives. Resolving these factual disputes is essential to answering the fundamental question of whether Plaintiffs have carried their burden to prove that the proposed transaction substantially lessens competition. It does not.”
Judge pauses Paramount-Warner Bros. merger
Judge Araceli Martinez-Olguin granted a 14-day restraining order after hearing argument from both sides on Friday morning.
Rob Bonta is the attorney general of California.
A 12-state coalition led by California brought the motion for the temporary restraining order.
California AG Rob Bonta says CNN spin-off wouldn't resolve Paramount–WBD lawsuit
Judge Araceli Martínez-Olguín declined to rule on Friday and said she will issue a ruling on a temporary restraining order by Wednesday, July 22.
Bonta characterized Paramount's reported threat to move out of California as what a monopolist would do and a desperate attempt to blackmail the states.
Bonta said a spin-off of CNN would not be sufficient to resolve the lawsuit.
States sue Paramount to block $111 billion Warner Bros. merger
The state attorneys general joining California in the lawsuit are from Arizona, Colorado, Connecticut, Massachusetts, Minnesota, Nevada, New Jersey, New Mexico, New York, Oregon and Washington.
The states allege a violation of the Clayton Act.
If Paramount is allowed to acquire Warner Bros., four studios will control over 85 percent of all wide-release theatrical films.
“The practical effect of this lawsuit is to shield those dominant streaming platforms like Netflix and technology companies from much-needed competition while preventing the significant benefits this transaction will deliver for consumers, creators, workers and the broader Hollywood economy,”