Writers Guild of America West

Fact Discovery Begins in Paramount–WBD Merger Trial

Attorneys for Paramount, Skydance, and Warner Bros. Discovery and a coalition of plaintiffs led by California and the Writers Guild of America filed a joint case management statement laying out a schedule for the antitrust trial over the proposed $110+ billion merger. Fact discovery is set to run August 17, 2026–January 8, 2027, with the bench trial scheduled for March 2–19, 2027. The merger agreement contains a roughly $7 million-per-day "ticking fee" after September 30, 2026 and a possible $7 billion termination fee if the deal is not closed by early June 2027. The discovery phase will require production of extensive internal documents and depositions and could materially affect the timeline and outcome of the merger.

Leading CA Democratic Candidate Urges Settlement in Paramount-WBD Antitrust Case

Xavier Becerra, the leading Democratic candidate for California governor, said a negotiated settlement would be the preferable outcome for the multistate antitrust lawsuit seeking to block the proposed merger between Paramount Skydance Corporation and Warner Bros. Discovery Inc. The suit, led by California Attorney General Rob Bonta with 11 other states, challenges a roughly $110–$111 billion combination on federal antitrust grounds and is scheduled for trial in early March 2027. Federal antitrust authorities and some international regulators previously cleared the deal, but the state-led litigation has delayed closing; the companies agreed not to consummate the transaction until five days after a final merits determination or June 1, 2027. Daily fees and a potential termination fee of about $7 billion raise stakes for the firms, while Paramount has warned it may relocate operations if delays persist.

Paramount May Sell CNN to Settle California Antitrust Suit

Paramount has faced speculation it might divest CNN after its chief legal officer suggested divestiture and even a theoretical relocation of operations as potential remedies in a California-led multistate antitrust suit over its roughly $110 billion acquisition of Warner Bros. Discovery. Reporting by CNN analyst Brian Stelter and other outlets, however, quotes Paramount sources saying the company does not intend to sell CNN; CEO David Ellison considers CNN strategic and a possible complement to CBS News. The deal has won clearance from U.S. federal authorities, China and other jurisdictions, and British regulators approved it with five-year commitments protecting Channel 5 programming and editorial independence. California Attorney General Rob Bonta, joined by 11 states and the Writers Guild of America, seeks to block the merger; the parties agree the deal cannot close until a trial on the merits or until mid-2027, with trial expected spring 2027.