Last week, it was reported that a US court had ordered Paramount to delay its acquisition of Warner Brothers Discovery for two weeks as a precautionary measure over anti-competitive issues. Previously, Netflix was reported to be looking to acquire WBD before Paramount came up with a more lucrative offer.
Paramount has now agreed to delay the acquisition not for two weeks, but until June 2027 to allow all parties to voice their opinions on the acquisition, and so that Paramount can provide assurances that it is not trying to create a monopoly in the film and creative industries.
The US government and the European Union have also technically allowed the acquisition, which is worth $111 billion, to proceed, but there are a number of parties, notably state governments and parties such as the Writers Guild of America (WGA), who have opposed the acquisition, with the WGA having filed several injunctions against Paramount.
However, the postponement of the acquisition means that the WGA has lifted these injunctions, at least until June 1, 2027, at which point the party says they will oppose the acquisition if Paramount still proceeds with the matter.
