N.D. Cal. case Nos. 4:26-cv-07116-AMO and 4:26-cv-07212-AMO, Stipulation and Order Not to Close: Paramount Skydance / Warner Bros. Discovery
The United States District Court for the Northern District of California issued an order in the challenge to Paramount Skydance's acquisition of Warner Bros. Discovery on 24 July 2026 (case Nos. 4:26-cv-07116-AMO and 4:26-cv-07212-AMO, Stipulation and Order Not to Close).[1]
The states, the Writers Guild plaintiffs and the companies agreed, and the court ordered, that the merger will not close or integrate until the earlier of five days after a decision on the merits or 1 June 2027. The court has set a single trial of both cases for 2 to 19 March 2027.
Paramount Skydance agreed to buy Warner Bros. Discovery for $31.00 a share in cash, which the companies put at $81 billion in equity value and $110 billion in enterprise value. It would combine the Paramount and Warner Bros. film studios, CBS and CNN, and HBO Max with Paramount+. Warner Bros. Discovery shareholders approved it on 23 April 2026 and the European Commission cleared it in July 2026.