Paramount Skydance has agreed to delay its proposed $110 billion merger with Warner Bros. Discovery while a lawsuit brought by 12 US state attorneys general is heard. The pause follows a judge’s order on 20 July and is significant because opponents argue the deal would further concentrate ownership in the American media industry.

The merger cannot be completed until five days after a trial, and Paramount could resume the acquisition process if no trial has occurred by 1 June 2027. Missing its original September 2026 closing target would trigger a $7 million-a-day fee to Warner Bros. Discovery investors after 30 September, increasing the deal’s cost; a trial schedule may be updated after a joint filing due on 31 July.