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BusinessActive today · day 4

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.

newest coverage 1h agosummary written 1h ago377 pieces31k likes & upvotes1.0k comments NewswiresMastodonRedditYouTubeXHacker NewsGoogle NewsBluesky

Part of a larger narrative

Paramount-Skydance Merger Battle

4 stories · since Sep 11 · newest 1h ago — Paramount seeks regulatory approval for its Skydance acquisition while facing legal challenges and economic impact concerns that threaten California's…

  1. Paramount Weighs Elon Musk as Equity Investor in Warner Bros. Deal
  2. Judge Delays Paramount–Warner Bros Merger, Lets Rivals Challenge Settlementyou are here
  3. Paramount Skydance settles states' suit, clearing $81B Warner Bros. Discovery merger
  4. 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

most voices

The settlement is a betrayal that concentrates dangerous media power in the hands of Ellison-aligned billionaires.

  • “This is insane. When did we just completely give up on our anti-trust laws?”

    catsbetterthanmen.bsky.social · Bluesky ↗
many voices

Newsom and Bonta caved instead of fighting the merger in court and should be politically punished for it.

  • “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 ↗
some voices

Foreign (Saudi/Qatari) ownership stakes in the merged company are the most alarming part of the deal.

  • “What about the Saudis and Qatar having MAJOR ownership??? THAT is NOT OK!!”

    evryv0t3.bsky.social · Bluesky ↗
some voices

AI-driven production, not the merger itself, is the bigger long-term threat to Hollywood.

  • “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 chiefRob BontaRob Bonta California Attorney GeneralGavin NewsomGavin Newsom California GovernorLetitia JamesLetitia James New York Attorney GeneralBlock The Merger Coalition Group of rival media companies

Judge Delays Paramount–Warner Bros Merger, Lets Rivals Challenge Settlement
bbc.co.uk

How it unfolded 8 developments, newest first · click a bar or a number to jump articlesvideospostscomments

Peak 31 pieces in one hour at Sep 21, 11 AM; 377 pieces over 4 days (136 articles · 8 videos · 49 posts · 184 comments) Sep 21, 9 AM — 3 pieces · 3 articles — Newswires 2, Google News 1Sep 21, 10 AM — 9 pieces · 6 articles · 3 posts — Newswires 4, Google News 2, X 2, +1 moreSep 21, 11 AM — 31 pieces · 31 articles — Newswires 31Sep 21, 12 PM — 29 pieces · 18 articles · 1 video · 10 posts — Newswires 16, Mastodon 8, Reddit 2, +2 moreSep 21, 1 PM — 28 pieces · 18 articles · 2 videos · 8 posts — Newswires 15, Mastodon 4, Google News 3, +3 moreSep 21, 2 PM — 14 pieces · 11 articles · 2 videos · 1 post — Newswires 9, Google News 2, YouTube 2, +1 moreSep 21, 3 PM — 5 pieces · 3 articles · 2 posts — Newswires 3, Mastodon 2Sep 21, 4 PM — 9 pieces · 8 articles · 1 video — Newswires 5, Google News 3, YouTube 1Sep 21, 5 PM — 9 pieces · 3 articles · 1 video · 5 posts — Mastodon 5, Newswires 3, YouTube 1Sep 21, 6 PM — 5 pieces · 2 articles · 3 posts — Mastodon 3, Newswires 2Sep 21, 7 PM — 3 pieces · 1 article · 2 posts — Mastodon 2, Newswires 1Sep 21, 8 PM — 3 pieces · 2 articles · 1 post — Newswires 2, Mastodon 1Sep 21, 9 PM — 1 piece · 1 article — Google News 1Sep 21, 10 PM — quietSep 21, 11 PM — quietSep 22, 12 AM — quietSep 22, 1 AM — quietSep 22, 2 AM — quietSep 22, 3 AM — 1 piece · 1 post — Mastodon 1Sep 22, 4 AM — 3 pieces · 3 articles — Google News 2, Newswires 1Sep 22, 5 AM — 1 piece · 1 article — Newswires 1Sep 22, 6 AM — 1 piece · 1 article — Newswires 1Sep 22, 7 AM — 5 pieces · 3 articles · 2 posts — Mastodon 3, Newswires 2Sep 22, 8 AM — 3 pieces · 2 articles · 1 post — Newswires 2, Mastodon 1Sep 22, 9 AM — quietSep 22, 10 AM — 2 pieces · 2 articles — Mastodon 1, Newswires 1Sep 22, 11 AM — 1 piece · 1 post — Bluesky 1Sep 22, 12 PM — 5 pieces · 3 articles · 2 posts — Newswires 3, Mastodon 2Sep 22, 1 PM — 1 piece · 1 article — Newswires 1Sep 22, 2 PM — quietSep 22, 3 PM — 17 pieces · 1 video · 1 post · 15 comments — Bluesky 16, YouTube 1Sep 22, 4 PM — 30 pieces · 30 comments — Bluesky 30Sep 22, 5 PM — 30 pieces · 1 article · 2 posts · 27 comments — Bluesky 27, Mastodon 2, Newswires 1Sep 22, 6 PM — 13 pieces · 13 comments — Bluesky 13Sep 22, 7 PM — 14 pieces · 14 comments — Bluesky 14Sep 22, 8 PM — 5 pieces · 5 comments — Bluesky 5Sep 22, 9 PM — 4 pieces · 4 comments — Bluesky 4Sep 22, 10 PM — 5 pieces · 5 comments — Bluesky 5Sep 22, 11 PM — 6 pieces · 6 comments — Bluesky 6Sep 23, 12 AM — 1 piece · 1 comment — Bluesky 1Sep 23, 1 AM — 5 pieces · 1 post · 4 comments — Bluesky 4, Mastodon 1Sep 23, 2 AM — 4 pieces · 4 comments — Bluesky 4Sep 23, 3 AM — 2 pieces · 2 comments — Bluesky 2Sep 23, 4 AM — 2 pieces · 2 comments — Bluesky 2Sep 23, 5 AM — 1 piece · 1 comment — Bluesky 1Sep 23, 6 AM — 3 pieces · 3 comments — Bluesky 3Sep 23, 7 AM — 2 pieces · 2 comments — Bluesky 2Sep 23, 8 AM — 5 pieces · 5 comments — Bluesky 5Sep 23, 9 AM — 6 pieces · 6 comments — Bluesky 6Sep 23, 10 AM — 4 pieces · 4 comments — Bluesky 4Sep 23, 11 AM — quietSep 23, 12 PM — 9 pieces · 9 comments — Bluesky 9Sep 23, 1 PM — 2 pieces · 2 comments — Bluesky 2Sep 23, 2 PM — 4 pieces · 4 comments — Bluesky 4Sep 23, 3 PM — 3 pieces · 1 article · 2 comments — Bluesky 2, Newswires 1Sep 23, 4 PM — 2 pieces · 2 comments — Bluesky 2Sep 23, 5 PM — 1 piece · 1 comment — Bluesky 1Sep 23, 6 PM — 1 piece · 1 article — Google News 1Sep 23, 7 PM — 1 piece · 1 comment — Bluesky 1Sep 23, 8 PM — quietSep 23, 9 PM — quietSep 23, 10 PM — quietSep 23, 11 PM — quietYesterday, 12 AM — quietYesterday, 1 AM — quietYesterday, 2 AM — 5 pieces · 5 comments — Bluesky 5Yesterday, 3 AM — quietYesterday, 4 AM — quietYesterday, 5 AM — quietYesterday, 6 AM — quietYesterday, 7 AM — quietYesterday, 8 AM — 3 pieces · 3 articles — Google News 3Yesterday, 9 AM — 1 piece · 1 article — Newswires 1Yesterday, 10 AM — 2 pieces · 1 article · 1 post — Google News 1, Reddit 1Yesterday, 11 AM — 4 pieces · 2 articles · 2 posts — Reddit 2, Google News 1, Newswires 1Yesterday, 12 PM — 2 pieces · 1 article · 1 comment — Google News 1, Reddit 1Yesterday, 1 PM — quietYesterday, 2 PM — quietYesterday, 3 PM — quietYesterday, 4 PM — 2 pieces · 2 articles — Newswires 2Yesterday, 5 PM — 2 pieces · 2 comments — Bluesky 2Yesterday, 6 PM — quietYesterday, 7 PM — quietYesterday, 8 PM — quietYesterday, 9 PM — quietYesterday, 10 PM — quietYesterday, 11 PM — quietToday, 12 AM — quietToday, 1 AM — 1 piece · 1 comment — Reddit 1Today, 2 AM — quietToday, 3 AM — quietToday, 4 AM — 1 piece · 1 comment — Reddit 1Today, 5 AM — quiet 123456–78
Sep 22Sep 23yesterdaynow · 6:42 AM ET
  1. 8

    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.

    1. 11 outlets Warner Bros. Merger Back On: Paramount Settles Antitrust Suit

      first by CNET, 3d ago · also AP News, Japan Today, PBS NewsHour, Philadelphia Inquirer, Baltimore Banner, KSTP-TV +4

      3 more headlines

    2. 3 outlets first by Deadline, 21h ago · also The Wrap, Yahoo · read ↗

    1 more claim →

    • Guess we lost CNN now. I’m disgusted they allowed this.

      sue677.bsky.socialBluesky12h ago1▲view on Bluesky ↗
    2 more of the top 3 · 4 posts in this stretch

    • 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.

      Zalvrenr/television4h agoview on r/television ↗

    • I’m not lifting my scrutiny off the leaders who allowed this. I’m angry and devastated.

      sue677.bsky.socialBluesky12h agoview on Bluesky ↗
    all of them →
  2. 7

    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.

    • 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)

      OverPotato2322r/television17h agoview on r/television ↗
  3. 6

    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.

    1. 1 outlet ‘Block the Merger’ push continues amid reported Paramount settlement with states

      first by NBC News, 3d ago

    • The next Congress must pass strict antitrust legislation with real consequences. The safeguards we used to have must be reinstated.

      lwilde11.bsky.socialBluesky1d ago1▲view on Bluesky ↗
    2 more of the top 3 · 17 posts in this stretch

    • when one door closes another one opens...time for new media companies to enter the fray...this is opportunity knocking

      iamjobe.bsky.socialBluesky1d ago1▲view on Bluesky ↗

    • They had no choice. They said they didn’t have the resources to continue the fight.

      champbonaparte.bsky.socialBluesky1d ago1▲view on Bluesky ↗
    all of them →
  4. 1 day quiet
  5. 5

    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
    • mayor.nyc.gov

      America is free only when the media is competitive, independent, and accountable to the people.

      mayor.nyc.govBluesky2d ago12k▲view on Bluesky ↗
    2 more of the top 3 · 165 posts in this stretch
    • Mediagazer@mstdn.social

      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

      Mediagazer@mstdn.socialMastodon2d agoview on Mastodon ↗
    • mayor.nyc.gov

      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.

      mayor.nyc.govBluesky2d ago1.9k▲view on Bluesky ↗
    all of them →
  6. 4

    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
    1. 2 outlets What’s Next for Paramount

      first by Mastodon, 2d ago · also NYT

    • 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

      newyorktimes@flipboard.comMastodon2d agoview on Mastodon ↗
    2 posts in this stretch →
  7. 3

    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
    • pluralistic@mamot.fr

      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…

      pluralistic@mamot.frMastodon3d ago146▲view on Mastodon ↗
  8. 2

    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
    1. 1 outlet Paramount Gets Big Win for WBD Merger After Settlement News

      first by Adweek, 3d ago

    • 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.

      @APX3d ago36▲view on X ↗
    2 more of the top 3 · 11 posts in this stretch
    • GeoWire@mastodon.social

      🟠 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…

      GeoWire@mastodon.socialMastodon3d ago2▲view on Mastodon ↗

    • 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

      thenewsdesk@flipboard.comMastodon3d ago2▲view on Mastodon ↗
    all of them →
  9. 1

    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
    1. 34 outlets Nolte: Paramount and 12 State AGs Settle, Clearing Path for Warner Bros. Merger

      first by Breitbart, 3d ago · also Philadelphia Inquirer, Chicago Tribune, Orlando Sentinel, Baltimore Sun, Mercury News, NBC News +27

      30 more headlines

    2. 12 outlets first by Reuters, 3d ago · also Newsbusters, New York Times, The Information, Variety, MS NOW, The Hill +5 · read ↗

    10 more claims →

    • 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:

      @DiscussingFilmX3d ago14k▲view on X ↗
    1 more of the top 2 · 2 posts in this stretch

    • 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.

      @WSJX3d ago383▲view on X ↗
    all of them →

Also covered reported alongside — the timeline has no entry for these yet

  1. 2 outlets Paramount clears the last major hurdle to buying Warner Bros. Discovery by settling the lawsuit brought by 12 states

    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

Still unanswered
  • 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?