Overview
- The parties filed a joint stipulation on Friday that Paramount will not close the roughly $110–111 billion acquisition until five days after a trial on the merits or June 1, 2027, whichever comes earlier.
- The filing cancels the Aug. 3 preliminary‑injunction hearing and sets a July 31 deadline for the sides to submit joint proposals on trial timing, moving the case from emergency relief to a full merits contest.
- Paramount faces heavy financial pressure from the merger contract: a roughly $650 million quarterly “ticking” fee (about $7 million per day) starts after Sept. 30 and a multibillion‑dollar breakup fee applies if the deal fails.
- A coalition of 12 states led by California and the Writers Guild of America say the tie‑up would cut competition, shrink output and weaken writers’ pay and opportunities, while Paramount says the merger is pro‑competitive.
- The dispute now pits state antitrust enforcement against prior federal and foreign approvals, including a June DOJ clearance and conditional EU signoff, creating multiple legal and regulatory tracks that could independently delay or block the deal.