Paramount Skydance agreed to freeze its merger with rival Hollywood studio Warner Bros. Discovery until next June while a federal judge weights an antitrust lawsuit from a coalition of Democratic state attorneys general who sued to block the $110 billion transaction.
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The agreement, detailed in an 11-page court document filed Friday, lengthens a temporary pause ordered this week by Araceli Martínez-Olguín of the the Northern District of California.
The combination of the two companies would create a modern media colossus. It would unite two historic film studios (Paramount Pictures and Warner Bros. Pictures), two popular streaming platforms (Paramount+ and HBO Max) and two leading news organizations (CBS News and CNN).
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