Paramount and Warner Bros. merger faces state antitrust challenges and delays

Several U.S. states are trying to block a major media merger that federal regulators have already approved. Paramount and Skydance want to join together in a deal worth $111 billion. The U.S. Justice Department said yes to the merger without asking for any changes. However, California and other states have taken legal action to stop it. The European Commission and more than 60 countries around the world have given their approval. The legal fight has forced Paramount to accept delays, and the merger may not be completed until 2027. Every day the deal is delayed, Paramount pays $7 million in fees. If the deal falls apart completely, Paramount could owe $7 billion. Workers' groups have also opposed the merger because they fear job losses.