Here’s yet another setback for Paramount in its bid to acquire Warner Bros. Discovery. It’s pretty clear now that the approximately $111 billion merger will undoubtedly be blocked until next year.

The judge presiding over the antitrust case seeking to block the acquisition announced that the trial will be held from March 2 to 19, 2027 (with a pretrial conference on February 24, 2027). This timeline does not bode well for Paramount, which will have to pay Warner Bros. shareholders $7 million for each day of delay starting September 30. By the time the trial begins, the company will have paid approximately $1.3 billion in delay penalties.

A spokesperson for Paramount Shydance has issued the following statement in response to this.

"The court has set a trial date for early March. We respect the court’s decision and continue to believe a trial on the merits is the best and most direct way for us to prove what we’ve said from the start — this transaction is lawful, pro-competitive, and raises no antitrust concerns. The lawsuit against us has no basis in fact, economics or antitrust law. We will continue to vigorously defend the transaction and remain committed to closing as soon as possible so its benefits for the creative community and consumers can be realized."