# 12 States

Type: Company

Source: Legal & RegTech Intelligence Brief — https://getlegalbrief.com/entity/12-states
Canonical HTML page: https://getlegalbrief.com/entity/12-states

## Timeline

- **2027-06-01**: Earliest possible closing date — If no court ruling by this date, Paramount may close the deal, barring further legal hurdles.
- **2026-08-03**: Preliminary injunction hearing canceled — The scheduled hearing is dropped as parties move directly to a broader antitrust trial.
- **2026-07-24**: Parties agree to delay closing until June 2027 or court ruling — Paramount files agreement with court, canceling Aug. 3 preliminary injunction hearing and setting a path to trial.
- **2026-07-21**: Temporary restraining order granted — Judge Martínez-Olguín freezes the Paramount-Warner merger for weeks, noting serious antitrust concerns raised by 12 states.
- **2025-01-01**: Skydance acquires Paramount — Paramount is bought by Skydance, setting the stage for further consolidation.

## Recent coverage (1 stories)

### $81B Paramount-Warner deal delayed to 2027 as judge green-lights antitrust trial
2026-07-25 00:13:35 · Sentiment: Bearish · Impact: 8/10 · Sources: 3

The $81 billion Paramount-Warner Bros. Discovery merger faces a protracted legal odyssey after a judge canceled a preliminary injunction hearing and moved the case to a full antitrust trial. The 12-state coalition led by California AG Rob Bonta won a key concession: the deal cannot close before June 2027 or a court ruling. The ruling raises immediate questions about merger guidelines, state enforcement power, and the evidentiary burden in media consolidation cases.
Full story: https://getlegalbrief.com/story/paramount-warner-delay-antitrust-trial-legal-challenge

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