Paramount-Skydance-Warner Merger Frozen Pending Antitrust Trial

Paramount Global and Skydance will pause their roughly $110 billion merger with Warner Bros. Discovery until June 1, 2027 (absent a ruling earlier), as a federal antitrust lawsuit by a coalition of state attorneys general proceeds. The extension follows a temporary pause while a judge weighs claims the deal would lessen competition across film distribution, top-grossing releases, and basic cable channels. Paramount says the pause moves toward a trial; the stock fell more than 3% after the news.