Paramount (PSKY.O) said on Friday it has agreed to pause its $111 bln merger
with Warner Bros. Discovery (WBD.O) — the suspension may extend until no later
than June next year — while courts consider lawsuits filed by multiple state
attorneys general seeking to block the deal. In court filings the parties said
the agreement freezes the transaction and extends a shorter pause previously
ordered by a California federal judge. The merger would combine major studios,
streaming services HBO Max and Paramount+, and networks including CBS and CNN.
Paramount CEO David Ellison led the acquisition and prevailed over Netflix after
multiple rounds of higher bids.
