Overview
- Paramount Skydance announced its proposal to buy Warner Bros. Discovery for roughly $110 billion on Feb. 27, combining major studios, networks and streaming services into one company.
- A 'Block the Merger' tour stop in Los Angeles on Saturday drew writers, crew members and speakers from federal agencies who warned the deal could cost thousands of jobs and reduce production opportunities.
- California and about 10 other states are drafting a multi‑state antitrust lawsuit to try to block the deal, a legal action that could slow or derail the transaction if filed in the coming weeks.
- Federal scrutiny is active: the Justice Department has subpoenaed documents from both firms and Britain’s competition regulator has opened a Phase 1 review, leaving approvals unresolved across jurisdictions.
- Paramount has offered reported concessions to state investigators, defended its plan to cut $6 billion in overlapping costs as pro‑competitive, and accused rival Netflix of campaigning to undermine the merger.