Paramount holds Warner Bros. deal open through June 2027, risking $650 million in delay fees

Paramount has agreed not to close its $111 billion acquisition of Warner Bros. Discovery until a judge rules or June 2027 arrives, whichever comes first (Reuters, 5 August 2026). The company risks roughly $650 million in quarterly fees if delays stretch beyond September (Al Jazeera, 20 July 2026).