Attorney General James Halts Paramount’s Merger with Warner Bros. for Months

NEW YORK – New York Attorney General Letitia James and a coalition of 11 other attorneys general today secured a months-long halt to Paramount Skydance Corp.’s (Paramount) $110 billion takeover of Warner Bros. Discovery, Inc. (Warner Bros.). On July 13, Attorney General James and the coalition sued Paramount and Warner Bros., alleging that their merger would illegally reduce competition throughout the film and television industries, harming workers, consumers, and businesses. Attorney General James and the coalition today secured a stipulation from Paramount and Warner Bros. that will delay the merger until after a court ruling on the merits of the lawsuit or June 1, 2027, whichever is earlier.

“From the workers and artists who bring stories to life to the families who buy tickets at the box office, Paramount’s illegal takeover of Warner Bros. is a bad deal for all those who count on a competitive entertainment industry,” said Attorney General James. “Halting this merger while our case proceeds is a critical victory in our efforts to uphold the law and protect the film and television industries. I look forward to continuing our case to stop this illegal merger.”

On July 20, Attorney General James and the coalition won a temporary restraining order preventing Paramount and Warner Bros. from carrying out their merger. Under the stipulation announced today, Paramount and Warner Bros. will continue to remain separate companies until five days after the court’s decision on the merits of the case or June 1, 2027, whichever comes earlier.

Joining Attorney General James in this case are the attorneys general of Arizona, California, Colorado, Connecticut, Massachusetts, Minnesota, Nevada, New Jersey, New Mexico, Oregon, and Washington.

For New York, this matter is being handled by Assistant Attorneys General Pratik Agarwal, Morgan Feder, and Will Margrabe and Attorney General Fellow Jaya Mantovani, all of the Antitrust Bureau, under the supervision of Bureau Chief Elinor Hoffmann and Deputy Bureau Chief Amy McFarlane, and with the assistance of Chief Economist Chitra Marti. The Antitrust Bureau is part of the Division for Economic Justice, which is led by Chief Deputy Attorney General Christopher D’Angelo and overseen by First Deputy Attorney General Jennifer Levy.