A federal judge has extended the delay of Paramount Skydance's planned $110 billion acquisition of Warner Bros. Discovery until at least August 17. Judge Araceli Martinez-Olguin, who is overseeing the state attorneys general's attempt to block the deal, had previously ordered the companies not to close for 14 days. An August 3 hearing on a preliminary injunction remains scheduled, and the states reported productive discussions with the parties. If the transaction does not close by September 30, Paramount must pay an additional $0.25 per share, or about $650 million per quarter, to Warner Bros. shareholders.
Paramount Skydance CorporationJudge extends delay of Paramount's acquisition of Warner Bros., blocking deal closure until at least August 17.
Warner Bros Discovery IncJudge extends delay of Warner Bros.' acquisition by Paramount, blocking deal closure until at least August 17.