Key Takeaways
- Paramount delays Warner Bros acquisition closing until at least July 22.
- Oregon seeks records and a 60-day delay for further review.
- European regulators continue assessing Paramount’s proposed competition remedies.
The Paramount Warner Bros deal will not be completed before July 22 after Oregon’s attorney general sought more time to review company records and asked a court to delay the transaction. The Paramount Warner Bros deal, valued at $110 billion, remains under regulatory review in both the United States and Europe.
The delay follows a request filed Wednesday by Oregon Attorney General Dan Rayfield’s office in Multnomah County Circuit Court. State officials are asking the court to require Paramount to provide additional records and postpone the transaction for 60 days while the review continues.
According to the attorney general’s office, Paramount had previously said it would not close the deal before July 16. During a preliminary court hearing Wednesday, the company revised that timeline and said it would not complete the acquisition before July 22.
State review extends deal timeline
The latest delay pushes the expected closing date back by another week as Oregon continues its investigation into the Paramount Warner Bros deal.
Rayfield’s office argues that additional time is needed to examine documents related to the transaction before the acquisition can move forward. The state’s court filing seeks both access to company records and a temporary delay of the closing.
Neither the court nor the attorney general’s office announced an immediate ruling on the request during Wednesday’s hearing.
The proposed acquisition, valued at approximately $110 billion, would combine two of the world’s largest entertainment companies. The transaction has drawn scrutiny from regulators in multiple jurisdictions because of its potential impact on competition across media and entertainment markets.
European review continues alongside U.S. scrutiny
The Oregon review comes as Paramount also works to secure regulatory approval in Europe.
The company has offered remedies to address competition concerns raised by the European Commission. According to sources familiar with the matter, Paramount proposed ending its film distribution joint venture with Universal Pictures as part of those commitments.
The European Commission recently extended its deadline for deciding on the merger to July 22 from July 7, giving regulators additional time to evaluate the proposed remedies.
The parallel reviews in the United States and Europe mean the Paramount Warner Bros deal remains subject to regulatory approval before it can be completed.
Paramount has not publicly commented beyond revising its expected closing timeline during the Oregon court proceedings. The Oregon attorney general’s office said the revised schedule gives the state additional time as it continues seeking records related to its review.
The outcome of both the Oregon court proceedings and the European Commission’s review is expected to determine whether the acquisition can move forward later this month.
