The Oregon attorney general’s office withdrew its motion to delay the closing of the Paramount-Warner Bros. merger, according to a filing Friday in Multnomah County Circuit Court in Portland, Oregon. The deal could close as soon as July 22, although several states, including Oregon and California, are investigating whether the $111 billion transaction violates their
The Oregon attorney general’s office withdrew its motion to delay the closing of the Paramount-Warner Bros. merger, according to a filing Friday in Multnomah County Circuit Court in Portland, Oregon.
The deal could close as soon as July 22, although several states, including Oregon and California, are investigating whether the $111 billion transaction violates their antitrust laws. States could still seek a court order to block the merger before then.
Dan Rayfield, Oregon’s attorney general, asked a court on Wednesday to extend the closing date by 60 days, arguing that his office needed more time to investigate because Paramount Skydance had not responded to records requests. The state sought records and answers to questions about the company’s lobbying of the White House and the Justice Department, suggesting that the Justice Department had improperly approved the merger in June.
The judge scheduled a hearing on the motion for Monday morning, but the issue is now moot. Rayfield’s office also withdrew its demand for records about “Project Warrior,” the code name for the effort to gain regulatory approval for the deal.
Paramount had argued that the requests were irrelevant to the antitrust issues the state is investigating.
“We are pleased that the Oregon Attorney General has withdrawn his motion to delay this transaction,” a company spokesperson said. “It was the right decision and avoids an unwarranted effort to delay a legal and pro-competitive merger.”
The Oregon attorney general’s office did not immediately respond to a request for comment.
Paramount is also working to obtain approval from the European Commission and the United Kingdom, and has already received the blessing of authorities in Australia, Canada and China.
“Antitrust authorities around the world have carefully examined this transaction, clarifying it or concluding that it does not violate any competition laws,” the company said. “That regulatory history underscores what the facts, the law and the economics make clear: this transaction will create a stronger challenge 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.”
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