Paramount CEO David Ellison has sent a companywide memo defending his company's $111 billion (£87 billion) takeover of Warner Bros. Discovery, after confirming the deal will be paused for several months amid an antitrust lawsuit brought by 12 US state attorneys general. The delay, agreed on Friday, could push the merger's completion into 2027, and Ellison sought to reassure staff that the company remains "highly confident" the transaction faces no genuine legal obstacles and will ultimately be completed.

Ellison told employees that Paramount and the state attorneys general will this week discuss possible trial dates, with an update due to the court by 31 July. The states are expected to push for a 2027 trial, while Paramount is likely to seek a hearing in autumn 2026. Paramount maintains that regulators in 65 jurisdictions, including the US Department of Justice, have already cleared or declined to challenge the deal, and says $24 billion in backing from Saudi, Qatari and Emirati sovereign wealth funds (giving them a combined 38.5% stake) does not warrant a national security review, as the investors will hold no board seats or voting shares.