Updated
Updated · Variety · Jul 11
Oregon Withdraws 60-Day Bid to Delay $111 Billion Paramount-Warner Bros. Merger
Updated
Updated · Variety · Jul 11

Oregon Withdraws 60-Day Bid to Delay $111 Billion Paramount-Warner Bros. Merger

3 articles · Updated · Variety · Jul 11

Summary

  • Friday’s court filing dropped Oregon’s request to push back the merger closing, removing a hearing set for Monday and leaving the deal able to close as soon as July 22.
  • Dan Rayfield had sought the 60-day delay on Wednesday, saying Paramount Skydance had not been responsive to records requests tied to Oregon’s antitrust investigation.
  • The attorney general’s office also withdrew demands for documents on “Project Warrior,” the code name for the company’s effort to secure regulatory approval, after Paramount argued the requests were irrelevant.
  • Oregon and California are still investigating the $111 billion transaction and could yet seek an injunction before closing, while Oregon says it is weighing its next move.
  • Paramount said regulators in Australia, Canada and China have already cleared the merger, and it is still pursuing approval in the EU and U.K.

Insights

With Oregon out, can California and global regulators still block the massive Paramount-Warner media merger?
How will foreign investment in the Paramount-Warner merger reshape American news and movies?
Will the Paramount-Warner merger create a true Netflix rival or just result in fewer jobs and choices?