Judge delays Paramount-Warner Bros. merger another two weeks

The merger now cannot be completed until at least August 18.

Judge delays Paramount-Warner Bros. merger another two weeks

While its long-term future is still up in the air, we now know that the Paramount Skydance-Warner Bros. Discovery merger will now not be finalized by at least August 18. Yesterday, Judge Araceli Martinez-Olguin added another two weeks to her order blocking the merger from taking place, reports Variety. On Monday, she ordered that the merger be paused for two weeks after a lawsuit brought by 12 states argued that the merger would violate antitrust laws. At that point, the merger was blocked from being completed until at least August 3. Now, the states will end up with four weeks to make their case for the injunction. 

Paramount, meanwhile, argues that it needs to cross-examine witnesses for the state and is pushing for a three-day evidentiary at the end of August. The corporation says it’s willing to extend the restraining order if it needs to. The states say that the judge should rule for the injunction without the three-day hearing, arguing that the corporation is not giving the states adequate time to prepare for the hearing and thus bypass a trial. Per Variety, Judge Martinez-Olguin compelled the parties to come to an agreement, though that seems unlikely given that the argument here is basically: “This merger will destroy thousands of jobs and concentrate wealth even further into the hands of a privileged few vs. No it won’t.” Perhaps the corporation will make the good decision without extended legal discussion, but we shouldn’t hold our breath for that. 

 
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