Judge Delays Paramount–Warner Bros Merger, Lets Rivals Challenge Settlement
A federal judge granted competitors' request to formally contest the antitrust deal that had cleared Paramount's $110bn Warner Bros. Discovery buyout.
Part of a larger narrative
Paramount-Skydance Merger Battle
- Paramount Weighs Elon Musk as Equity Investor in Warner Bros. Deal
- Judge Delays Paramount–Warner Bros Merger, Lets Rivals Challenge Settlementyou are here
- Paramount Skydance settles states' suit, clearing $81B Warner Bros. Discovery merger
- Leaked study shows Paramount exit could cost California $10.6B–$21.2B annually
What to know
- A settlement between Paramount and 12 states that appeared to clear the way for the $110 billion Warner Bros. Discovery merger has been challenged, delaying closure.
- A federal judge questioned whether the settlement satisfies antitrust law and granted rival companies time to formally oppose it.
- Online reaction to the underlying settlement was strongly negative, focused on media consolidation under the Ellison family and reported Middle Eastern investor stakes.
- California Governor Gavin Newsom and AG Rob Bonta face criticism from commenters who say they capitulated rather than fight the deal in court.
The dispute Some frame the deal purely as a domestic antitrust and political failure by Newsom/Bonta, while others insist the more urgent issue is undisclosed foreign ownership stakes in the merged company. · positions read across 203 posts and comments
The settlement is a betrayal that concentrates dangerous media power in the hands of Ellison-aligned billionaires.
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“This is insane. When did we just completely give up on our anti-trust laws?”
catsbetterthanmen.bsky.social · Bluesky ↗
Newsom and Bonta caved instead of fighting the merger in court and should be politically punished for it.
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“The California AG said he would block this from happening. Gavin Newsom said "make it go away, no courts!" Both men are cowards.”
mentalperson.bsky.social · Bluesky ↗
Foreign (Saudi/Qatari) ownership stakes in the merged company are the most alarming part of the deal.
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“What about the Saudis and Qatar having MAJOR ownership??? THAT is NOT OK!!”
evryv0t3.bsky.social · Bluesky ↗
AI-driven production, not the merger itself, is the bigger long-term threat to Hollywood.
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“They are going to kill Hollywood with AI. I hate to say it and don't wish it, but others have said it too.”
herboriste-7.bsky.social · Bluesky ↗
David Ellison Paramount Skydance chief
Rob Bonta California Attorney General
Gavin Newsom California Governor
Letitia James New York Attorney GeneralBlock The Merger Coalition Group of rival media companies
How it unfolded 8 developments, newest first · click a bar or a number to jump articlesvideospostscomments
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Judge grants rivals' motion to block settlement, delaying merger
The judge sided with rival companies seeking to challenge the settlement, granting their request and delaying the closing of the Paramount–Warner Bros. Discovery merger.
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first by CNET, 3d ago · also AP News, Japan Today, PBS NewsHour, Philadelphia Inquirer, Baltimore Banner, KSTP-TV +4
3 more headlines
- States settle lawsuit over Paramount-Warner merger, clearing key hurdle for $81 billion deal AP News · 3d ago
- Paramount reaches deal with states to settle their case challenging Warner buyout, AP source say The Hindu · 3d ago
- States settle lawsuit with Paramount, paving way for Warner merger France 24 EN · 2d ago
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3 outlets first by Deadline, 20h ago · also The Wrap, Yahoo · read ↗
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Guess we lost CNN now. I’m disgusted they allowed this.
2 more of the top 3 · 4 posts in this stretch
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I don't think it's gonna sold, they keep adding debt on the shit sandwich there. Nobody will want the combined companies. They'll have to sell assets (IP, channels, studio lots) part by part to hope to survive.
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I’m not lifting my scrutiny off the leaders who allowed this. I’m angry and devastated.
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Judge questions whether settlement complies with antitrust law
During a virtual hearing, the Biden-appointed federal judge scrutinized whether the negotiated settlement between Paramount and the states satisfies federal antitrust requirements.
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Regardless, they'll both get sold again in a few or couple of years aa the high debt will screw over them (but I expect Paramount to be given the 21st century treatment)
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Block The Merger coalition asks judge for time to formally oppose deal
A coalition of rival media companies calling itself Block The Merger asked the federal judge overseeing the case for time to formally challenge the settlement between Paramount and the states.
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first by NBC News, 3d ago
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The next Congress must pass strict antitrust legislation with real consequences. The safeguards we used to have must be reinstated.
2 more of the top 3 · 17 posts in this stretch
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when one door closes another one opens...time for new media companies to enter the fray...this is opportunity knocking
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They had no choice. They said they didn’t have the resources to continue the fight.
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- 1 day quiet
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Public backlash erupts over media concentration and foreign ownership
A wave of social media commentary condemned the settlement as consolidating media power under Ellison-aligned interests and questioned Middle Eastern investors' stakes in the merged company.
“This merger strikes a chilling blow against that freedom — and hands even more power to billionaires like David Ellison to decide what Americans see and hear.”
— mayor.nyc.gov -
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America is free only when the media is competitive, independent, and accountable to the people.
2 more of the top 3 · 165 posts in this stretch
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Sources: BofA, Citigroup, and Apollo Global Management are reaching out to investors ahead of the sale of $49B in financing backing Paramount's takeover of WBD (Claire Ruckin/Bloomberg) https://www. bloomberg.com/news/articles/20 26-09-22/paramount-s-49-billion-debt-sale-to-kick-off-after-lawsuits-end http:// mediagazer.com/260923/p4#a2609 23p4
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This merger strikes a chilling blow against that freedom — and hands even more power to billionaires like David Ellison to decide what Americans see and hear, all while lifting scrutiny off the federal leaders who pushed it through.
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NYT DealBook says Paramount is now free to reshape media industry
Andrew Ross Sorkin's DealBook column argued that Hollywood watchers see Paramount as having prevailed over the states, positioning it to reshape the media landscape once the deal closes.
“Hollywood watchers believe the studio prevailed over states seeking to block its deal for Warner Bros. Discovery. It’s now free to reshape the media industry.”
— Andrew Ross Sorkin -
2 outlets What’s Next for Paramount
first by Mastodon, 2d ago · also NYT
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What’s Next for Paramount https://www. nytimes.com/2026/09/22/busines s/dealbook/paramount-warner-deal-settlement.html?utm_source=flipboard&utm_medium=activitypub Posted into Business Day @ business-day-newyorktimes
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Critics accuse California AG Bonta of caving to Ellison family
Commentators and social media users criticized the settlement as a capitulation that hands control of Warner Bros., Paramount and TikTok to the Ellison family and allied investors.
“Well, *fuck*. California AG Bonta just surrendered to the Trump-aligned Ellison billionaires who want to take over and destroy Warners...”
— pluralistic@mamot.fr -
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Well, *fuck*. California AG Bonta just surrendered to the Trump-aligned Ellison billionaires who want to take over and destroy Warners, merging it with the chudded out husk they've made of Paramount, leaving these two useless assholes to control Warners, Paramount and Tiktok: https://www. reuters.com/legal/litigation/p…
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News outlets confirm settlement clears path for $110bn merger
AP, BBC, WSJ and other outlets confirmed the settlement, noting Paramount would not have to sell cable channels as part of the deal, appearing to remove the last major legal obstacle to closing.
“Breaking: Paramount has reached a settlement with a group of states that clears the way for its Warner merger. It won’t have to sell cable channels as part of the deal.”
— @WSJ -
first by Adweek, 3d ago
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BREAKING: Paramount reached a settlement with the states that sued over its Warner Bros. buyout, clearing a path for the merger, an AP source says.
2 more of the top 3 · 11 posts in this stretch
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🟠 UPDATE Paramount Skydance Settles Antitrust Lawsuit Over Warner Bros. Acquisition Settlement with California and 11 other states clears major legal hurdles. Deal imposes commitments on film production, jobs, and editorial independence at CNN and CBS News. 📰 https://www. france24.com/en/americas/20260…
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Paramount reaches deal with California, other states over Warner merger https://www. nbcnews.com/business/media/par amount-reaches-settlement-states-warner-bros-discovery-merger-rcna598645?utm_source=flipboard&utm_medium=activitypub Posted into Top Stories in News @ top-stories-in-news-thenewsdesk
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Paramount reaches settlement with 12 states over Warner Bros deal
Paramount announced a settlement with a coalition of state attorneys general who had sued to block its acquisition of Warner Bros. Discovery, with an official announcement expected the same day.
“Paramount has reached a settlement on the lawsuit with the 12 U.S. states and can move forward with the Warner Bros merger.”
— @DiscussingFilm -
first by Breitbart, 3d ago · also Philadelphia Inquirer, Chicago Tribune, Orlando Sentinel, Baltimore Sun, Mercury News, NBC News +27
30 more headlines
- AP source: Paramount reaches settlement with states that sued over its Warner buyout, clearing path for the mega merger Philadelphia Inquirer · 3d ago
- Paramount reaches deal with states to settle their case challenging Warner buyout, AP source says Chicago Tribune · 3d ago
- Paramount reaches deal with California, other states over Warner Bros. Discovery merger NBC News · 3d ago
- Paramount reaches deal with states to settle case challenging Warner buyout: Source ABC News · 3d ago
- Paramount settles lawsuit blocking $110 billion Warner Bros. merger Mastodon · 3d ago
- Paramount Skydance reaches antitrust deal with states over Warner Bros. Discovery purchase CBS News · 3d ago
- Paramount settles with states over Warner Bros Discovery deal Investing.com News · 3d ago
- World in Brief: Paramount’s settlement over Warner Bros merger; Alibaba’s AI push economist.com · 3d ago
- Paramount settles lawsuits with 12 US states, clearing way for Warner merger The Guardian · 3d ago
- Paramount settles with states that sued over Warner Brothers Discovery merger The Hill · 3d ago
- Paramount settles US states' antitrust lawsuit, clearing the way for its Warner Bros. acquisition Engadget · 3d ago
- Paramount reaches deal with states over $110B Warner Bros. merger NBC News · 3d ago
- Paramount settles lawsuit with US states, helping clear way for $110bn merger with Warner Bros BBC · 3d ago
- Paramount wins Warner Bros takeover after settling US states, union lawsuits Straits Times · 3d ago
- Paramount settles with US states in big step towards closing Warner Bros merger Straits Times · 3d ago
- Paramount settles with state AGs over Warner Bros. merger Courthouse News · 3d ago
- World in Brief: Paramount settles over Warner Bros deal; AI-related stocks rise The Economist · 3d ago
- Paramount settles with U.S. states over Warner Bros. merger, clearing way for $81B US deal CBC · 3d ago
- Twelve US states settle suit with Paramount, opening way to Warner Bros mega merger Le Monde EN · 3d ago
- Paramount one step closer to $110bn Warner Bros merger after settlement with 12 states Sky News · 3d ago
- US states settle lawsuit over Paramount-Warner merger The Canberra Times · 3d ago
- Paramount settles with US states, clearing way for Warner Bros merger - ABC News & Headlines Australian Broadcasting Corporation · 3d ago
- Paramount settles with US states, clearing way for Warner Bros merger ABC Australia · 3d ago
- Paramount, US states settle antitrust lawsuit over Warner Bros. acquisition France 24 EN · 3d ago
- Paramount Cleared to Buy Warner Bros. NYT · 3d ago
- Paramount settles lawsuits, allowing for Warner Bros. deal Bloomberg Markets · 3d ago
- Paramount settles US states' lawsuits, clearing way for Warner Bros. takeover Semafor · 3d ago
- Paramount settles with US states, clearing path for Warner Bros. merger France 24 EN · 3d ago
- Paramount settles with US states to clear Warner Bros. mega-merger France 24 EN · 3d ago
- Paramount Skydance reaches settlement with states over Warner Bros. merger CBS News · 3d ago
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12 outlets first by Reuters, 3d ago · also Newsbusters, New York Times, The Information, Variety, MS NOW, The Hill +5 · read ↗
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Paramount has reached a settlement on the lawsuit with the 12 U.S. states and can move forward with the Warner Bros merger. An official announcement will happen later today. (Source:
1 more of the top 2 · 2 posts in this stretch
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Breaking: Paramount has reached a settlement with a group of states that clears the way for its Warner merger. It won’t have to sell cable channels as part of the deal.
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Also covered reported alongside — the timeline has no entry for these yet
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first by Business Insider, 3d ago · also Yahoo Finance
1 more headline
and 7 smaller pieces
What people are saying 13 voices from 3 sites · best of 203 · verbatim
- What exactly are the terms of the foreign investment stakes (Saudi/Qatari) in the merged Paramount-Warner Bros. entity?
- Will the judge's delay ultimately unwind the settlement or just postpone the merger's closing?
- Today
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Yeah but the thing is when it turns out they don't have the 5 million you may be quite happy with $50k money for free
- Sep 22
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Ellison has already structured agreements with foreign entities to own just shy of 50% of the merged company with Middle Eastern entities holding the majority of those stakes.
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When America fell to fascism and the DOJ started working for a dictator president.
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This is a travesty! How is it okay that now nearly all American media will be under the control of the Trump-aligned Ellison Family and the Saudi Government?!
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This is insane. When did we just completely give up on our anti-trust laws?
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The California AG said he would block this from happening. Gavin Newsom said "make it go away, no courts!" Both men are cowards.
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What about the Saudis and Qatar having MAJOR ownership??? THAT is NOT OK!!
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I am grateful to Attorney General Tish James for the protections she secured for workers. This decision is a shameful monument to corruption and a betrayal that the American people won't soon forget.
- Sep 21
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Paramount has reached a settlement with a coalition of 12 state attorneys general to resolve an antitrust lawsuit, removing a significant legal hurdle as the company moves toward its merger with Skydance. The agreement reportedly includes concessions regarding channel bundling and limitations that could impact how services like CNN are packaged. -…
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This will not bode well for CNN jobs: “It will cut jobs and raise prices, all as it consolidates the media even more to enable authoritarians.” https://www. nytimes.com/2026/09/21/busines s/paramount-warner-bros-ellison.html?smid=nytcore-ios-share via @NYTimes
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Paramount to Settle Lawsuits, Paving Way for Warner Bros. (Bloomberg) https://www. bloomberg.com/news/articles/20 26-09-21/paramount-to-settle-lawsuits-paving-way-for-warner-bros-merger?accessToken=eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJzb3VyY2UiOiJTdWJzY3JpYmVyR2lmdGVkQXJ0aWNsZSIsImlhdCI6MTc4OTk5OTc1MSwiZXhwIjoxNzkwNjA0NTUxLCJhcnRpY2xlSWQiOiJUTEw…
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Paramount reaches a settlement with the US states suing to block its WBD acquisition, after four states that opposed a deal conceded over the weekend (Bloomberg) https://www. bloomberg.com/news/articles/20 26-09-21/paramount-to-settle-lawsuits-paving-way-for-warner-bros-merger?accessToken=eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJzb3VyY2UiOiJTdWJzY3J…
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Reported settlement of the lawsuit against the merger of # Paramount and # WarnerBrothers supposedly includes guarantees of "newsroom independence." Because we know big corporations owned by right-wing billionaires always keep their promises. 🙄 https://www. huffpost.com/entry/warner-bros -paramount-merger-settlement_n_6ab14463e4b085277b524578