Paramount has told Oregon authorities that the planned $110 billion acquisition of Warner Bros will not close before July 22, the office of Oregon Attorney General Dan Rayfield said on Wednesday. That notification represents a one-week shift from an earlier timeline in which Paramount had said it would not close the deal before July 16, Rayfield's office said.
Oregon's attorney general filed a request in Multnomah County on Wednesday seeking a court order to require Paramount to produce records and to delay the closing of the transaction by 60 days so state officials can examine the materials. At a preliminary hearing on the state's filing on Wednesday, Paramount amended its previously stated timeline, Rayfield's office said.
In a separate regulatory development, Paramount has proposed remedies intended to address competition concerns raised by the European Union. Among the measures reported last week, the company offered to abandon its film distribution joint venture with Universal Pictures. Those proposed concessions are part of efforts to secure approval from the European Commission for the transaction.
The European Commission responded by extending the deadline for its decision to July 22, moving it from an earlier July 7 date to allow additional time to assess the remedy offered by Paramount. The Commission's extension aligns the EU timetable with the revised date Paramount provided to Oregon officials.
The developments in Oregon and the EU mean regulators in both jurisdictions are seeking additional time or information before signing off on the transaction. The Oregon attorney general has sought both documents and a statutory delay, while the European regulator has extended its review window to evaluate the proposed remedy related to the film distribution joint venture.
Those procedural steps underscore that the closing of the acquisition remains subject to active scrutiny by multiple authorities. The company has adjusted its internal closing projections in response to the state filing, and the European Commission has signaled it requires more time to determine whether Paramount's remedies are sufficient to address competition concerns.
Contextual note - The information presented here is limited to the filings, requests, timelines, and regulatory actions described by Oregon's attorney general and by European regulatory authorities as reported in recent statements and reports. No additional outcomes, dates, or rulings have been provided in those statements.