Block The Merger Coalition Asks Judge To Delay Paramount

Key Points:

• A coalition opposing the Paramount–Warner Bros. Discovery merger is requesting a federal judge to set a briefing schedule to formally object to a proposed settlement they deem too weak.
• The Block the Merger Coalition raised concerns that the consent decree does not fully address antitrust claims, may introduce First Amendment issues, and includes provisions that could allow the merged entity to reduce film production or suspend commitments under certain conditions.
• The coalition also criticized specific terms such as separate carriage negotiations for cable channels being potentially unworkable and an editorial oversight board raising free speech concerns.
• Paramount argues the coalition lacks standing and that allowing additional briefing would delay the merger closing, which has already been approved by regulators, potentially causing significant financial penalties.
• A hearing on the consent decree is scheduled for Thursday, with the coalition seeking to extend the briefing schedule beyond the October 1 deadline when Paramount must close the deal or pay Warner Bros. Discovery $7 million per day.