Paramount-WBD Merger Opponents Cheer Legal Delay, Stocks Slide As Industry Absorbs Latest Plot Twist

After Friday's delay in the Paramount-WBD antitrust lawsuit, shares of both media companies slid in after-hours trading, foes of the merger exulted and observers tried to process the latest twist in the merger saga. California Attorney General Rob Bonta hailed the agreement, under which Paramount pledged not close the $110 billion deal before June 1, 2027, or a legal determination of the suit's merits, whichever comes first. The pact is 'great news for audiences, movie theaters, and the many people who write, build, and create the art, news, and entertainment so many of us enjoy,' he said in a statement. 'We're eager to continue to make our case in court and celebrate another tremendous win in our effort to ensure this unlawful merger never sees the light of day.'