Paramount–WBD antitrust trial set for March 2027

A federal judge has scheduled an antitrust trial over Paramount Skydance’s proposed acquisition of Warner Bros. Discovery to begin on March 2, 2027. The trial is slated to run for 12 court days and will take place in Oakland, California. The schedule establishes the court timeline for reviewing a transaction valued at about $110 billion.

The March 2027 date reflects the court’s decision to position the trial months into the future, leaving the merger subject to ongoing legal scrutiny. Until the court issues a ruling after the trial, the status of the deal will remain uncertain.

The trial will consolidate two sets of lawsuits that challenge the merger on antitrust grounds. One case was brought by a coalition of 12 state attorneys general, led by California’s attorney general, seeking to halt the combination. A separate case was filed by the Writers Guild of America, which also aims to block the transaction.

U.S. District Judge Araceli Martínez-Olguín ordered that these cases be heard together in a single proceeding starting March 2, 2027. Trying the challenges jointly aligns the arguments and evidence over the proposed merger within one coordinated schedule.

Paramount Skydance has agreed to push back the planned closing of its Warner Bros. Discovery acquisition into 2027 while the antitrust litigation is pending. The delay keeps the transaction from being completed before the combined lawsuits go to trial. The companies’ decision means the merger’s completion is now tied closely to the outcome of the March 2027 proceeding.

The legal battle intensified in July when 12 state attorneys general, together with the Writers Guild of America, filed their antitrust complaints. Those actions prompted the agreement to defer closing and set the stage for the newly scheduled trial.

Under the merger agreement, Paramount must pay Warner Bros. Discovery shareholders a ticking fee of roughly $7 million per day if the deal has not closed after September 30. This obligation applies for each day the transaction remains pending beyond that date. The fee structure creates a direct financial cost tied to any extended delay in closing.

Given the March 2027 trial date, the daily payments could accumulate over an extended period before a court decision is reached. Paramount has argued that a lengthy delay threatens the deal, emphasizing the pressure created by the ticking-fee provisions as the litigation schedule pushes resolution further into the future.