Paramount offers to briefly delay Warner Bros. merger as court battle heats up

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Set us as preferred Paramount Skydance’s top antitrust attorney told a judge Friday that David Ellison’s company would voluntarily delay its proposed $111-billion takeover of Warner Bros.Discovery at least until mid-August amid a legal challenge brought by 12 state attorneys general.The states, led by California Atty.

Gen.Rob Bonta, have asked a judge to issue a temporary restraining order that would prevent Paramount from finalizing its deal as the court battle ramps up.

Paramount made the pledge in hopes of avoiding such a ruling that would tie its hands — and give the states an early win in the litigation.Federal District Judge Araceli Martínez-Olguín said she would decide by Wednesday whether to issue a restraining order.Friday’s hearing in Oakland opened the first chapter in the fight over the blockbuster deal that both sides agree would dramatically reshape Hollywood.

Two century-old film studios — with rights to Harry Potter, Batman, “The Big Bang Theory” and “Game of Thrones” — would be combined, and HBO and CNN would come under new ownership.Antitrust attorney James H.Weingarten, of the Washington law firm Millbank, represents California and the other states.

He told the judge it would be impossible to untangle the two companies if they are allowed to combine.“If this merger is allowed to close ...the harms begin,” Weingarten said.

“The job losses, the synergies — that’s the fancy word for ‘we’re going to save money and there might be job cuts.’ All of that process starts rolling.” Hollywood Inc.The letter was signed by nearly 1,000 artists and movie creators, including Ben Stiller, Bryan Cranston, Noah Wyle, Joaquin Phoenix, Kristen Stewart and Jane Fonda.Bonta filed the suit Monday, alleging the proposed merger — the largest in Hollywood in decades — would violate the...