Paramount’s $111 Billion Warner Bros. Discovery Merger Trial Set for March 2027, Months Later Than Requested

A federal judge has established the next major milestone in the legal challenge against Paramount’s planned takeover of Warner Bros. Discovery (WBD), setting the antitrust trial for March 2027.

Judge Araceli Martínez-Olguín issued a preliminary schedule on Tuesday, placing the start of the antitrust trial on March 2, 2027. The proceedings will last 12 court days and conclude on March 19. A final pretrial conference is scheduled for February 24. The judge also ordered both parties to submit a joint case management statement by August 13, 2026, ahead of an initial case management conference on August 19.

The timeline creates additional financial pressure for Paramount as it works to complete its $111 billion deal for WBD. Under the merger agreement, Paramount will begin paying a $7 million-per-day “ticking fee” to WBD shareholders starting October 1 if the transaction has not yet closed. With the trial not scheduled until March, Paramount could face more than $1 billion in potential ticking-fee costs before the proceedings are completed.

Paramount had pushed for an earlier trial date, requesting that the case begin in November 2026, while the coalition of 12 state attorneys general and the Writers Guild of America had sought a later schedule in April 2027.

A Paramount Skydance spokesperson said the company respects the court’s decision and remains confident that the merger will withstand legal scrutiny.

“We respect the court’s decision and continue to believe a trial on the merits is the best and most direct way for us to prove what we’ve said from the start — this transaction is lawful, pro-competitive, and raises no antitrust concerns.”

The company has argued that the merger would create a stronger competitor in the entertainment industry. However, the coalition of 12 state attorneys general challenging the deal claims the acquisition would give the combined company too much market power, limit competition, and potentially lead to higher prices. The Writers Guild of America filed a separate lawsuit, arguing that the merger could hurt opportunities for writers by eliminating a key competitor.

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