Temporary restraining order on Paramount/WBD merger extended further
The pause in the potential mega-merger between Paramount Skydance & Warner Bros. Discovery has been extended further.
On Thursday, U.S. District Judge Araceli Martinez-Olguin extended Monday’s initial 14-day temporary retraining order submitted by U.S. state attorneys general through August 18.
Via the Hollywood Reporter. this extra time will give both sides time “to come to an agreement on the schedule and format for legal proceedings on a preliminary injunction, which would freeze the transaction until the case is decided if granted.”
The court will consider arguments on the motion on August 3.
Led by California attorney general Rob Bonta, the various attorneys general filed a lawsuit claiming the $111 billion sale would violate an antitrust act that is more than 100 years old and would be anticompetitive for the theatrical industry.
A similar situation — Nexstar Media and Tegna’s proposed $6.2 billion merger — is on pause with a trial scheduled for the middle of 2027. Bonta also filed that lawsuit.
WBD is the domestic rights holder for AEW through 2027 with an option for an extension year, leaving all sides in an interesting situation if this lawsuit also goes to trial — especially past 2027.
If the merger doesn’t close by the end of September, WBD shareholders would get a total of $6.9 million per day, totaling roughly $650 million per quarter. If the deal doesn’t happen due to regulatory issues, Paramount has to pay WBD $7 billion.
Since 2011, Josh has been a contributing editor to Wrestling Observer/F4WOnline.com and also hosts the Punch-Out podcast. He has also written for Fight Magazine, Bloody Elbow, Bleacher Report, and other websites. He's a 2000 graduate of the University of Maine, worked in pro sports, and once was an indie ring announcer.