Key facts
- Oregon's Attorney General withdrew a court motion to delay Paramount's acquisition of Warner Bros.
- The state sought documents related to 'Project Warrior' and lobbying efforts for regulatory clearance.
- Oregon cited Paramount's non-compliance with investigative demands as a reason for withdrawal.
- Paramount called the merger lawful and pro-competitive.
The Oregon Attorney General's office has withdrawn its court motion to delay Paramount's proposed $110 billion acquisition of Warner Bros. The state's Department of Justice stated that Paramount's non-compliance with investigative demands led to the withdrawal, asserting that the company believes it is 'above the law.'
Earlier in the week, Oregon Attorney General Dan Rayfield's office had asked a court in Multnomah County to order Paramount to hand over records related to 'Project Warrior,' the company's internal code name for efforts to obtain regulatory clearance, and to delay the deal by 60 days. The state also sought records concerning Paramount's lobbying of the Trump administration for support of the merger.
A Paramount spokesperson expressed pleasure at the withdrawal, calling the merger 'lawful' and 'pro-competitive.' The deal, which would combine two of Hollywood's four major studios, has faced criticism from industry professionals concerned about job losses and is also under scrutiny from other U.S. states that could potentially sue to block the acquisition over competition concerns.