Judge Delays Paramount’s $111 Billion WBD Settlement as Booker Objections Force New Briefs
Updated
Updated · Deadline · Sep 24
Judge Delays Paramount’s $111 Billion WBD Settlement as Booker Objections Force New Briefs
3 articles · Updated · Deadline · Sep 24
Summary
Judge Araceli Martinez-Olguin withheld approval of the proposed settlement Thursday and ordered briefs by Sept. 29 addressing Sen. Cory Booker’s objections, pushing any ruling past the expected sign-off.
Booker’s six-page letter urged an independent public-interest review, while the judge questioned whether the consent decree actually cures Clayton Act concerns and whether the settlement process was truly arm’s length.
Paramount is moving ahead with a $7.5 billion debt raise as the delay revives pressure from a $7 million-a-day ticking fee starting Oct. 1 and leaves the merger’s closing timeline uncertain.
State attorneys general defended the five-year decree as the best antitrust remedy short of blocking the deal, but said they were still prepared to take the case to a March 2, 2027 trial if approval fails.