State AGs case The State of California et al. v. Paramount Skydance Corporation et al., No. 4:26-cv-07116-AMO (N.D. Cal.): Paramount Skydance / Warner Bros. Discovery
The United States State Attorneys General (multistate coalition) sued to block Paramount Skydance's acquisition of Warner Bros. Discovery on 13 July 2026 (case The State of California et al. v. Paramount Skydance Corporation et al., No. 4:26-cv-07116-AMO (N.D. Cal.)).[1]
California led twelve states in suing under section 7 of the Clayton Act to block the merger, alleging harm in wide-release film distribution and in the licensing of basic cable channels. The other plaintiffs are Arizona, Colorado, Connecticut, Massachusetts, Minnesota, Nevada, New Jersey, New Mexico, New York, Oregon and Washington.
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.