The Oregon attorney general’s office has decided to withdraw its motion that sought to delay the closure of the Paramount-Warner Bros. merger. This development was detailed in a filing submitted on Friday to the Multnomah County Circuit Court in Portland, Oregon.
The merger, valued at $111 billion, could be finalized as soon as July 22. However, several states, including Oregon and California, are conducting investigations to determine if the transaction breaches antitrust laws. These states retain the option to seek an injunction to block the merger before the anticipated closing date.
Dan Rayfield, the Oregon attorney general, had previously requested a 60-day extension on Wednesday to delay the merger’s closing. He argued that his office needed additional time to investigate as Paramount Skydance had not adequately responded to records requests. The state was seeking documentation and answers regarding the company’s lobbying activities with the White House and the Department of Justice, implying that the DOJ’s approval of the merger in June may have been improper.
Although a judge had scheduled a hearing for the motion on Monday morning, the matter is now considered moot. Rayfield’s office also withdrew its request for records related to “Project Warrior,” the code name for the initiative aimed at securing regulatory approval for the merger.
Paramount maintained that the records requests were unrelated to the antitrust concerns being investigated by the state.
“We are pleased that the Oregon Attorney General has withdrawn its motion to delay this transaction,” a company spokesperson stated. “It was the right decision and avoids an unwarranted effort to delay a lawful, pro-competitive merger.”
The Oregon attorney general’s office did not immediately respond to a request for comment.
Paramount is also seeking approval from the European Commission and the U.K., having already received the endorsement of authorities in Australia, Canada, and China.
“Antitrust authorities around the world have carefully reviewed this transaction, clearing it or concluding that it does not violate any competition laws,” the company stated. “That regulatory record underscores what the facts, the law, and the economics make clear: this transaction will create a stronger challenger to dominant global streaming and technology platforms, expand consumer choice, increase investment in premium content and theatrical distribution, and create more opportunities for creators and workers. We look forward to completing the transaction and delivering those benefits.”
