Paramount secures regulatory approval for Warner Bros. Discovery sale, faces lawsuit

Paramount announced on Saturday that it has secured all required regulatory approvals to finalize its acquisition of Warner Bros. Discovery, concluding an eight-month review process across 68 jurisdictions, including the European Union, the UK, Australia, Canada, Brazil, China, and the United States.

Despite receiving clearance from global regulators, the deal's completion was hindered by a lawsuit filed by 12 U.S. state attorneys general. Paramount stated that without this legal challenge, the merger could have been completed today. The company has urged the attorneys general to engage in good-faith discussions to resolve the lawsuit and clear the path for the merger.

The acquisition process has been complex. Initially, Paramount offered $108.4 billion for Warner Bros. Discovery in December 2025. This offer came shortly after Netflix announced an agreement to acquire Warner Bros. Discovery for $72 billion. However, Warner Bros. Discovery's board eventually favored Paramount's revised offer, leading Netflix to withdraw its bid. The merger process was further complicated when Netflix's agreement was terminated in February, requiring Paramount Skydance to pay a $2.8 billion termination fee before a definitive merger agreement was reached.