Key facts
- Paramount will not close its $110 billion acquisition of Warner Bros. before July 22.
- Oregon's Attorney General is seeking a court order to delay the deal by 60 days for record review.
- Paramount previously agreed to a July 16 closing delay.
- The European Commission extended its decision deadline to July 22.
- Paramount has offered remedies to address EU competition concerns.
Paramount has stated it will not finalize its $110 billion acquisition of Warner Bros. before July 22, a timeline extension prompted by an antitrust probe initiated by the Oregon Attorney General's office. The state is seeking a court order to delay the deal by 60 days to review company records, having previously secured a commitment from Paramount to not close before July 16.
Oregon Attorney General Dan Rayfield's office contends that Paramount has not fully complied with records requests related to its lobbying efforts and internal processes concerning the merger. The state is asking the court to compel compliance and prevent the deal's closure for 60 days after substantial compliance.
Separately, Paramount is working to secure approval from the European Commission, which extended its decision deadline to July 22. To address competition concerns, Paramount has proposed remedies, including exiting its film distribution joint venture with Universal Pictures. The UK's Secretary of Culture, Media and Sport has also indicated potential intervention, requesting concerns be addressed.
Paramount maintains it has provided all requested documents and argues that the transaction will create a stronger competitor, expand consumer choice, and increase investment in content and distribution.