Paramount Skydance agrees to freeze its WBD mega-merger while the antitrust cases are decided

Gilbert Flores/Variety via Getty Images; Mario Tama/Getty Images Paramount Skydance has agreed to pause its mega-merger with Warner Bros. Discovery until five days after the antitrust cases are ruled on, or until June 1, 2027, whichever comes sooner, the company said on Friday. "Today's agreement is a significant win because the result is exactly what we have sought from the outset: a direct path to a trial based on the evidence," a Paramount spokesperson said in a statement. The spokesperson continued: "This is the fastest and clearest way to prove that this transaction is good for competition, good for consumers, and good for creators, a conclusion dozens of competition authorities around the world have already reached. Plaintiffs' market definitions bear no relationship to the realities of today's marketplace and cannot withstand scrutiny. We look forward to proving our case at trial." This story is developing. Check back for updates. Read the original article on Business Insider