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Paramount Skydance has agreed to a long-delayed $111 billion acquisition of Warner Bros. Discovery, preventing the companies from agreeing until a judge rules on the merits of the case in which twelve states have challenged the agreement’s validity.
Under a the law filed in court today, the states and companies agreed that the merger is not complete and the companies will not merge their operations until “five days after the determination of this matter,” or June 1, 2027, whichever occurs first. The delay was also endorsed by the Writers Guild of America, which filed a lawsuit to block the merger. If there is no proper resolution by June 1, the plaintiffs can call for an injunction to continue to cancel the contract.
The deal is a “multi-month standstill” in the merger, New York Attorney General Letitia James’ office said. he said. “The blocking of this merger while our litigation continues is an important victory in our continued efforts to enforce the law and protect the film and television industry,” James said.
