The parties challenging and defending Paramount’s proposed merger with Warner Bros. Discovery have submitted a proposed timetable for an antitrust trial scheduled for March 2027. The case matters because any delay could make the deal significantly more expensive and could ultimately determine whether the two media companies are allowed to combine.

Twelve state attorneys general and the Writers Guild of America are suing Paramount and WBD, with fact discovery proposed from 17 August to 8 January and a final pre-trial conference on 24 February. Paramount would owe WBD $7 million a day after 30 September if the deal has not closed, and could face a $7 billion termination fee if the agreement expires on 4 June; the parties are also discussing a possible settlement conference, while disputing how the 12 trial days should be allocated.