States Prepare Antitrust Lawsuit to Block Paramount’s $110.9 B Acquisition of Warner Bros. Discovery

Lawyers for a coalition of state attorneys general are finalizing a lawsuit that could block Paramount Skydance’s pending purchase of Warner Bros. Discovery (WBD). The filing is expected next week, though the exact date may shift. If the suit proceeds, it could halt the deal slated for completion later this summer and push the projected July 22, 2026 closing date further out. California, New York and several other states have been investigating the transaction for months, while Oregon’s attorney general’s office has already sought a court-ordered 60-day pause.

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The U.S. Department of Justice’s Antitrust Division cleared the merger without conditions on June 12, 2026 after an eight-month review, and the Justice Department’s approval was followed by shareholder endorsement on April 23, 2026. Paramount also points to approvals from antitrust authorities in multiple foreign jurisdictions. In the United Kingdom, Culture Minister Lisa Nandy said she was “minded to intervene,” indicating potential overseas scrutiny.

US states may sue to block Paramount’s $110B acquisition of Warner Bros. Discovery

Paramount’s spokesperson said the company “continues to engage constructively with regulators, including State Attorneys General, and are prepared to address any legitimate antitrust issues. We are confident this transaction raises no such concerns.” The same office added that “antitrust authorities around the world have carefully reviewed this transaction, clearing it or concluding that it does not violate any competition laws.” California Attorney General Rob Bonta’s office, when asked for comment, replied, “The Paramount acquisition of Warner Bros. remains an active investigation, and we do not have any update to share at this time.”

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Industry observers note that the merger would combine two of Hollywood’s four major studios, prompting concerns from actors, writers and theater owners about job losses and reduced consumer choice. Theater owners argue the deal could narrow the slate of movies released annually, while critics contend it would strengthen a challenger to dominant streaming and technology platforms, potentially limiting competition.

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• “We continue to engage constructively with regulators, including State Attorneys General, and are prepared to address any legitimate antitrust issues. We are confident this transaction raises no such concerns.” — Paramount spokesperson

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• “Antitrust authorities around the world have carefully reviewed this transaction, clearing it or concluding that it does not violate any competition laws,” — Paramount spokesperson

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• “The Paramount acquisition of Warner Bros. remains an active investigation, and we do not have any update to share at this time.” — Office of California Attorney General Rob Bonta

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• “minded to intervene” — Lisa Nandy, UK Culture Minister

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