Skydance–Warner Bros. Discovery Merger Frozen as Multi-State Antitrust Suit Blocks Closing
Paramount Skydance’s proposed $110–111 billion acquisition of Warner Bros. Discovery has been frozen after a coalition of 12 state attorneys general, led by California AG Rob Bonta, sued to challenge the deal’s impact on competition. Even with U.S. DOJ clearance and broader regulator approvals, the suit won a temporary restraining order, freezing closing until a merits ruling or June 1, 2027, while court filings cite 27–30% control in certain theatrical segments and nearly one-third in basic cable programming.