Oregon Attorney General drops merger delay effort

Oregon Attorney General Dan Rayfield has withdrawn a civil investigative demand and related court motion targeting Paramount’s proposed acquisition of Warner Bros. Discovery.

Rayfield had sought records on Paramount’s federal lobbying activities tied to the deal, including its role in a Department of Justice statement and efforts under the internal name Project Warrior. The attorney general had also asked a Multnomah County Circuit Court judge to order the documents turned over and to delay the merger closing by 60 days.

A hearing on the motion had been set for Monday. Paramount objected to the requests, calling them disproportionate and irrelevant to any potential violation of Oregon antitrust law.

A Paramount spokesperson welcomed the withdrawal, calling it the right decision and describing the transaction as lawful and pro-competitive. Jenny Hansson, communications director for Rayfield, said the office would consider next steps after Paramount declined to comply.

California Attorney General Rob Bonta and other state attorneys general are said to be considering a legal challenge to the transaction.

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Courtroom illustration of antitrust lawsuit blocking Paramount-Warner Bros. Discovery merger
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States and Writers Guild Sue to Block Paramount Merger

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Twelve state attorneys general filed an antitrust lawsuit on July 13 to halt Paramount's proposed $110 billion merger with Warner Bros. Discovery. The Writers Guild of America followed with its own suit on July 14. A federal court hearing on an emergency motion for a temporary restraining order is set for Friday.

The Department of Justice approved Paramount's $111 billion acquisition of Warner Bros. Discovery on Friday. The decision clears a key regulatory hurdle for the merger.

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California Attorney General Rob Bonta said Sunday that his office is investigating the proposed merger between Paramount and Warner Bros. Discovery.

FCC Commissioner Anna Gomez has called for a thorough review of foreign investments in Paramount's proposed merger with Warner Bros. Discovery. The deal would result in 49.5% foreign ownership, including significant stakes from Saudi Arabia, Qatar, and Abu Dhabi. Gomez expressed concerns over national security and press freedom.

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Paramount Skydance has filed with the FCC stating that the merged Paramount-Warner Bros. Discovery will see Middle Eastern funds holding 38.5% of the equity. Saudi Arabia’s Public Investment Fund will take a 15.1% stake, the UAE’s sovereign wealth fund 12.8%, and Qatar Investment Authority 10.6%. Foreign investors will lack board seats or voting shares, with control remaining with the Ellison family and RedBird Capital Partners.

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