The $110 billion merger between Paramount Skydance and Warner Bros. Discovery has a trial date. U.S. District Judge Araceli Martínez-Olguín, based in Oakland, scheduled an antitrust trial lasting twelve days to begin March 2, 2027 and run through March 19, per a court order entered August 4.
The ruling landed between the two positions staked in court. Paramount had sought a November 2026 start, hoping to resolve the case before year end. A coalition of twelve state attorneys general and the Writers Guild of America had proposed April 2027. The judge placed the trial in March, with sessions running from 8:30 a.m. to 1:30 p.m.
California Attorney General Rob Bonta leads the multi-state opposition, which spans Arizona, Colorado, Connecticut, Massachusetts, Minnesota, Nevada, New Jersey, New Mexico, New York, Oregon, and Washington. The states argue the deal would extinguish competition in three markets: wide-release theatrical distribution, top-grossing films, and basic cable channel distribution. The Justice Department, along with regulators in Australia, China, and the European Union, had already approved the transaction.
Paramount stated it would "respect the court's decision" and intends to prove the deal "is lawful, pro-competitive, and raises no antitrust concerns," according to a statement reported by Yahoo Finance.
The financial exposure is considerable. The deal accrues a $7 million daily penalty for each day it does not close after September 30, 2026. A failed regulatory outcome triggers a $7 billion termination fee. The merger agreement itself expires June 4, 2027. With trial scheduled to conclude March 19, the window to close before that date is narrow but remains open.