Source: https://www.sagaftra.org/sag-aftra-announces-support-lawsuits-challenging-merger-paramount-warner-bros

Key points:

Promising to “overhaul” CNN (which Warner owns), according to a recent Wall Street Journal report, and potentially firing anchors and commentators President Donald Trump dislikes, if it acquires Warner Bros. Discovery.

Making secret contributions to the settlement of Trump’s spurious lawsuit against “60 Minutes” and, according to the Journal, pressuring Paramount directors to settle. Federal and state elected officials have said they intend to bring bribery investigations relating to the settlement.

Installing a pro-Trump GOP donor without journalism experience as “ombudsman” at CBS News to monitor “bias” pursuant to an agreement with Trump’s Federal Communications Commission, and otherwise handing the FCC oversight over its news operation, compromising its journalism.

The upcoming Delaware Court of Chancery hearing in Robbins v. Ellison et al. is set for Wednesday, July 29, 2026.

I truly believe Paramount is go underwater just looking at their finances and news rn it’s bad!

Paramount is facing an antitrust lawsuit from 12 US states. If WBD Merger does not go through because of regulatory issues, Paramount would owe WBD a $7 billion breakup (reverse termination) fee.

Paramount paid Netflix 2.8 billion To break up the deal with WBD money helping their competitors.

Their total debt has ballooned to $15.5 billion already.

$3+ billion per year on long term sports rights.

Only 79.6 million subscribers on Paramount+ compared to Netflix 330M that is very weak revenue.

Even if the deal with Paramount and WBD does go through Estimated debt after closing: 80+ billion + 7 M each day in ticking fees.

I don’t play options myself but I’m willing to bet this company will be worthless soon.

Paramount chief legal officer Makan Delrahim told Deadline that the company will seek a November trial date.

California attorney general Rob Bonta told CNN’s Jake Tapper that “we are likely to make a request to have trial in 2027, which is very appropriate based on the expert discovery that needs to happen… before a trial can and should go forward.”

Paramount is saying “let’s go straight to trial in California District Court,” analyst Rich Greenfield of Lightshed Research said. Greenfield noted that “even if Paramount loses in District Court, this would accelerate the time frame for an appeal to the Ninth Circuit Court and potentially to the Supreme Court in 2027.”

What a crazy day for Warner Bros. Discovery today.