Paramount-Warner Bros. Merger: Fight Over Trial Timing

Paramount Skydance and a coalition of twelve state attorneys general, joined by the Writers Guild of America (WGA), have each filed a scheduling proposal for the antitrust trial over the $111 billion Paramount–Warner Bros. Discovery merger. The states, including California and New York, ask Judge Araceli Martinez-Olguin to set a 12- to 15-day trial beginning April 5, 2027. Paramount seeks a 12-day trial starting November 4, arguing a later date would compress the window for a final court decision before the merger’s closing deadline.

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The merger, cleared by the DOJ in June and by regulators in Europe, Australia, China and other jurisdictions, would combine Paramount’s film and television assets with Warner Bros. Discovery’s library and streaming platforms. Paramount’s filing states that, beginning at the end of September, it will owe Warner Bros. shareholders $7 million per day until the transaction closes. The parties must complete the deal by June 4, 2027; Paramount has said it will not close before June 1, 2027 pending resolution of the lawsuits.

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The states filed their antitrust suit on July 13, alleging the merger would substantially lessen competition in basic-cable and theatrical-distribution markets. The WGA filed a related complaint the next day, contending the deal would harm the marketplace for writers.

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• Merger value: $111 billion.

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• Daily payment: $7 million per day after September.

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• Trial length proposals: 12-15 days (states) vs. 12 days (Paramount).

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• Document production: over two million documents from more than 80 Paramount employees already disclosed.

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• Historical comparison: The DOJ’s antitrust case against the AT&T–Time Warner merger went to trial on March 19, 2018, roughly four months after the complaint; that case began 513 days after the merger agreement was signed, whereas the states argue the proposed April 2027 trial would occur only 402 days after the Paramount–Warner Bros. agreement was signed in February.

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• Judge Araceli Martinez-Olguin: Earlier this month the judge issued a temporary restraining order that blocked the merger from closing for 28 days, extending an earlier 14-day block.

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The states contend that Paramount’s proposed schedule is “extraordinarily truncated” and “unfairly favors defendants” because it would allow less than two months for fact discovery and only one month for expert discovery. They argue that extensive discovery is still needed to define the relevant markets, assess harm, and evaluate the merger’s claimed efficiencies. The states also note that Paramount’s document production largely stopped before the merger agreement was signed, limiting access to post-closing integration plans.

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The primary disagreement centers on the appropriate trial start date; both sides agree that timing will affect the ability to meet the June 4, 2027 closing deadline, but they differ on how much discovery time is required for a “thorough evidentiary record.”

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• “Our challenge to the unlawful Warner Bros./Paramount merger is a clean-cut antitrust challenge through and through: it’s about protecting the vibrancy of an industry, the pockets of consumers, and the quality of films and television programs that take center stage in many of our lives,” — General Rob Bonta, attorney

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Judge Martinez-Olguin must set a trial date before the June 4, 2027 deadline. Paramount has indicated it will keep the transaction on hold until the trial concludes or the court issues a final ruling. The states and the WGA will continue to seek extensive discovery, while Paramount argues that the November schedule already provides adequate time for both parties.

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