Paramount Antitrust Trial Delayed as Ellison Makes Case for Merger
Company CEO David Ellison is much more outspoken about the transaction.
Paramount is persistently optimistic that the $110 billion merger of Warner Bros. Discovery will proceed, despite ongoing antitrust litigation from twelve US states. In an op-ed for the New York Times, Paramount CEO David Ellison flatly dismissed the plaintiffs' allegations, arguing that the issue is not about market concentration but rather Paramount's ownership of WBD's CNN.
Ellison also attempted to debunk speculation about his political leanings, stating that CNN and CBS News will maintain impartial news coverage. The company's second-quarter earnings saw a modest 1% revenue increase, with net income down 28%, mainly due to weak performance in linear TV. Paramount reassures shareholders that they expect the deal to close, citing strong growth in their streaming service, Paramount+, and a successful UFC media rights agreement.
The antitrust trial has been scheduled for March 2, 2027, extending the delay beyond the initially anticipated November start date.
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