The Oregon attorney general’s office has withdrawn its motion to delay the closing of the Paramount-Warner Bros. merger, according to a filing submitted Friday in the Multnomah County Circuit Court in Portland, Ore.
The deal could close as soon as July 22, though several states, including Oregon and California, are investigating whether the $111 billion transaction violates their antitrust laws. The states could still seek an injunction to block the merger before that date.
Dan Rayfield, the Oregon attorney general, asked a court on Wednesday to extend the closing date by 60 days, arguing that his office needed more time to investigate because Paramount Skydance had not been responsive to records requests. The state sought records and responses to questions about the company’s lobbying of the White House and the Department of Justice, suggesting that the DOJ had improperly approved the merger in June.
The judge scheduled a hearing for the motion on Monday morning, but the issue is now moot. Rayfield’s office also withdrew its demand for records regarding “Project Warrior” — the code name for the effort to win regulatory approval of the deal.
Paramount had argued that the requests were irrelevant to the antitrust issues the state is investigating.
“We are pleased that the Oregon Attorney General has withdrawn its motion to delay this transaction,” a company spokesperson said. “It was the right decision and avoids an unwarranted effort to delay a lawful, pro-competitive merger.”
Jenny Hansson, a spokeswoman for the A.G.’s office, said the agency is considering its next move.
“Paramount made it clear that they weren’t going to comply with the investigative demand, and that they think they’re above the law,” she said. “We’re not going to let them waste Oregonians’ resources on these games. We’ve withdrawn the motion to consider our next steps.”
Paramount is also working to win approval from the European Commission and the U.K., and has already received the blessing of authorities in Australia, Canada and China.
“Antitrust authorities around the world have carefully reviewed this transaction, clearing it or concluding that it does not violate any competition laws,” the company stated. “That regulatory record underscores what the facts, the law and the economics make clear: this transaction will create a stronger challenger to dominant global streaming and technology platforms, expand consumer choice, increase investment in premium content and theatrical distribution, and create more opportunities for creators and workers. We look forward to completing the transaction and delivering those benefits.”
