Antitrust Trial Set for March 2027 Hits Ellison's Paramount-Warner Bid

A coalition of 12 states will push Paramount’s $111 billion takeover of Warner Bros. Discovery to a 12‑day antitrust trial starting March 2, 2027, after Paramount pressed for a later start. From Oct. 1, Paramount must pay roughly $7 million per day in ticking fees to Warners shareholders until the deal closes, potentially totaling over $1.5 billion before a ruling. The trial is led for Paramount by Beth Wilkinson, with Milbank lawyers James Weingarten and Richard Parker representing the states. If the merger isn’t closed by the June 2027 outside date, Warner can terminate and collect a $7 billion termination fee. Ellison has said financing is in place and the deal is lawful, despite politicized scrutiny around CNN.