Oregon Withdraws Motion to Delay $110 Billion Paramount-Warner Bros. Merger

The Oregon attorney general’s office on Friday withdrew its court motion aimed at delaying Paramount’s proposed $110 billion acquisition of Warner Bros. The move removes an immediate state-level obstacle for the media giants, though the deal continues to face broader regulatory scrutiny.

A Shift in Legal Strategy

The Oregon Department of Justice accused Paramount of failing to cooperate with its investigative demands for documents related to the merger. "Paramount made it clear that they weren’t going to comply with the investigative demand, and that they think they’re above the law," the department said in a statement to Reuters.

Oregon's legal team stated it would not "let them waste Oregonians’ resources on these games" and has withdrawn the motion to "consider our next steps." The state had previously asked a Multnomah County court to compel Paramount to hand over records and delay the deal by 60 days. As part of that review, Paramount had agreed not to close the transaction before July 22.

Scrutiny Over 'Project Warrior'

At the center of Oregon's inquiry are documents concerning "Project Warrior," Paramount’s internal code name for its efforts to secure regulatory approval for the massive deal. The state was also seeking records related to the company’s alleged lobbying of the Trump administration for support.

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In response to the withdrawal, a Paramount spokesperson told Reuters, "We are pleased that the Oregon Attorney General has withdrawn its motion to delay this transaction." The company described the proposed merger as "lawful" and "pro-competitive."

Broader Headwinds Remain

While Oregon has stepped back for now, the proposed combination of two of Hollywood's four major studios faces significant opposition. Actors, writers, and other industry professionals have raised concerns about potential job losses and reduced competition.

According to reports from Reuters, the deal is also under review by other U.S. states, which could still file lawsuits to block the acquisition on antitrust grounds. For investors, these remaining regulatory hurdles represent a material risk to the deal's successful completion.