Oregon AG asks court for 60‑day pause on Paramount–Warner Bros. Discovery merger

Oregon’s attorney general has moved to slow Paramount Skydance’s proposed takeover of Warner Bros. Discovery, and the immediate fight is over records as much as antitrust. Dan Rayfield’s office said it asked a Multnomah County judge to order Paramount to turn over documents tied to Oregon’s investigation and to block the companies from closing the deal for 60 days after the company substantially complies. Oregon said Paramount had told the state it did not plan to close before July 16, but had not agreed to wait longer while the inquiry continued. (doj.state.or.us) That filing matters because it sits alongside a broader state effort to challenge the transaction itself. CNN and Reuters reported that lawyers for several states are finalizing an antitrust lawsuit over Paramount’s pending acquisition of Warner Bros. Discovery, with California Attorney General Rob Bonta leading the investigation into whether the deal would unlawfully harm competition. (msn.com) The size of the deal is part of why the dispute has drawn so much attention. Coverage of the transaction has valued it at roughly $110 billion, while some reports put the figure at $111 billion. (money.usnews.com) What Oregon is asking for is narrow but consequential. The state wants a court order compelling production of records and a temporary bar on closing, rather than a final ruling on the merger’s legality. Oregon’s justice department said Paramount should be required to fully comply within three days of an order, and then be prevented from closing for 60 days from the date of substantial compliance. (doj.state.or.us) Paramount has pushed back on the records demand. A company spokesperson told TheWrap that the requested information “has nothing to do with whether this transaction complies with Oregon’s antitrust laws” and is not a valid basis to delay what Paramount called a lawful, pro-competitive deal. (finance.yahoo.com) The timing is also important. Reuters reported on July 9 that Paramount said it would not close the Warner Bros. deal before July 22, extending the timeline by another week while Oregon seeks more time. Separate reports said a hearing on Oregon’s motion had been pushed until next week. (msn.com) So the story now has two tracks. One is the Oregon records fight in state court. The other is the expected multistate antitrust complaint that could seek to block the merger more broadly. Reuters said states could sue as soon as next week. (money.usnews.com) For the companies, that means the merger process is no longer just about federal approval or boardroom strategy. It is also about document production, state-level litigation and a closing calendar that keeps moving. (msn.com)