Oregon Withdraws Motion to Delay Paramount's $110 Billion Merger

Oregon Attorney General Dan Rayfield withdrew a court motion on July 11 that sought to delay Paramount's $110 billion acquisition of Warner Bros. Discovery. Rayfield had previously asked a Multnomah County court for a 60-day pause to compel the production of records regarding "Project Warrior," an internal initiative involving lobbying of the Trump administration. Rayfield stated he withdrew the motion because Paramount refused to comply, accusing the company of acting as if they are "above the law."

Paramount defended the merger as "lawful" and "pro-competitive," arguing that the state's records request was disproportionate and irrelevant to antitrust laws. To address the initial legal pressure, Paramount had previously agreed to push its closing date from July 16 to at least July 22.

Despite unconditional approval from the U.S. Department of Justice and regulators in Austria, Australia, and Kuwait, the deal continues to face scrutiny. California Attorney General Rob Bonta is leading an active investigation, and a coalition of states including New York may file antitrust lawsuits as early as next week. The merger also faces potential intervention from U.K. Culture Minister Lisa Nandy and the European Commission. If these challenges prevent the deal from closing by October, Paramount may owe Warner Bros. Discovery shareholders a "ticking fee" of approximately $650 million per quarter.