Paramount-WBD Close Slips to June 2027 as Settlement Talks With California Collapse

Paramount agreed to delay the $110 billion Warner Bros. Discovery close to as late as June 2027, with the 12-state antitrust trial set for March, after California AG Rob Bonta cancelled Monday's settlement meeting over alleged leaks — an accusation Paramount publicly denies. Reported settlement positions show the gap: Paramount offers procedural guarantees while the states demand structural remedies including a cable-networks spin-off, and CNBC reports the fight is already chilling wider media dealmaking.