Paramount Agrees to Delay Warner Bros. Merger for Months

Paramount Agrees to Delay Warner Bros. Merger for Months

Paramount said on Friday that it had agreed to halt its merger with Warner Bros. Discovery until next June at the latest while a judge considers a lawsuit from state attorneys general who sued to block the deal. The delay throws into doubt the future of a deal that would remake Hollywood.

In a legal filing, Paramount and the state attorneys general said that they had reached an agreement to freeze the $111 billion merger while the case works its way through court, extending a shorter pause imposed by a federal judge in California this week.

The deal would unite under one roof two major movie studios, the streaming services HBO Max and Paramount+ and networks including CBS and CNN. David Ellison, the tech scion who runs Paramount, has aggressively pushed to acquire Warner Bros., ultimately outbidding Netflix after proposing a handful of escalating offers.

This is a developing story. Check back for updates.

Seamus Hughes contributed research.

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