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Paramount Aiming to Close WBD Acquisition by End of September Despite State Antitrust Lawsuit

GateNews
WBD1.25%
According to Paramount's lead trial counsel Jeffrey Kessler, Paramount is still targeting the end of September 2026 to close its acquisition of Warner Bros. Discovery, despite a lawsuit filed on Monday by a coalition of state attorneys general challenging the deal on antitrust grounds. Kessler told CNBC on Tuesday that the company remains committed to closing the $110 billion merger as scheduled. The European Union has set July 22 as a provisional deadline for regulatory approval. Any delay in closing past September 30 would trigger quarterly "ticking fees" of approximately $650 million in cash value per quarter paid to WBD shareholders. The states sought a temporary restraining order to halt the deal pending legal proceedings.
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