Folks, I’m sipping my coffee and trying to wrap my head around this one. A federal judge has set a March 2027 trial date for the antitrust challenges to Paramount’s acquisition of Warner Bros. Discovery, which just so happens to be CNN’s parent company. I mean, talk about a long engagement – this merger has been in the works for a while now, and it looks like it’s going to be a long time before it’s finalized, if it happens at all.
I’m reading through this article, and I’m thinking to myself, “Paramount must be getting a little antsy.” They wanted to complete the merger this summer, but now it’s looking like it’ll be at least seven more months before anything happens. And let me tell you, that’s going to cost them – we’re talking millions of dollars in “ticking fees” just because the deal hasn’t closed yet.
Now, I know what you’re thinking – what’s the holdup? Well, it seems like a coalition of state attorneys general and the Writers Guild of America are both trying to stop the merger. They filed lawsuits back in July, and Judge Araceli Martínez-Olguín issued a temporary restraining order. Paramount agreed to stand still until a ruling after trial or until June 2027, whichever comes first. And now, we’ve got a trial date set for March 2, 2027.
I’ve got to say, I’m a little amused by the back-and-forth between Paramount and the states. Paramount wanted to have the trial in November, but the states and writers said, “Hey, we need more time to gather evidence and prepare our arguments.” And then the judge comes along and says, “You know what? We’re going to start this trial in March, and it’s going to run for 12 court days.” I guess that’s just the way the cookie crumbles sometimes.
The delay is going to put a strain on the companies and financiers involved, and it’s going to cost Paramount a pretty penny. We’re talking over $1 billion in “ticking fees” before the judge even rules on the merger. And who knows, maybe the parties will settle before the trial even happens. But for now, it looks like we’re in for a long wait.
Paramount CEO David Ellison is still optimistic about the deal, though. He wrote an op-ed for The New York Times defending the merger and vowing to ensure CNN’s editorial independence. He said he believes the legal challenge from the states is really about whether he can be trusted as a steward of Warner’s CNN. And he repeated his pledge to uphold CNN’s editorial independence, saying that their journalists will continue to answer to the facts and to the people they serve – not to any party or cause.
But not everyone is buying what Ellison is selling. A spokesperson for California Attorney General Rob Bonta said that the challenge to the Warner Bros./Paramount merger is a clear-cut antitrust case, and that the merger is unlawful under federal law. So, it looks like we’ve got a bit of a standoff on our hands.
In conclusion, it looks like the Paramount and Warner Bros. Discovery merger is still a long way off. With a trial date set for March 2027, it’s going to be a while before we know what’s going to happen. And who knows, maybe by then we’ll all be so tired of waiting that we’ll just forget about the whole thing. But until then, I’ll just be over here, sipping my coffee and enjoying the drama. After all, as they say, “the show must go on” – and this is one show I’m happy to keep watching.
Armchair patriot. Believes in the free market, cold beer, and that there’s always a guy named George behind every CNN segment.
Former remote-throwing champion turned #1 couch commentator on liberal panic in the media. Born in Texas (or so his mug says), he earned a degree in Fake Newsology & Beer Philosophy from YouTube University.
