Episode 93: Oregon AG Moves to Block Paramount-WBD Close

Oregon Attorney General Dan Rayfield has filed a motion in Multnomah County Circuit Court seeking a 60-day delay of the Paramount–Warner Bros. Discovery merger close, plus a court order compelling Paramount to produce documents related to an internal lobbying operation the company called "Project Warrior." The move comes as Paramount holds to a July 22 close date tied to EU regulatory review, the UK Culture Secretary signals a possible intervention, and California AG Rob Bonta considers a parallel challenge. The Oregon filing is the clearest signal yet that state-level legal action could meaningfully complicate — or delay — the close timeline. Key Takeaways: Oregon AG Dan Rayfield is seeking a 60-day court-ordered delay of the Paramount–WBD merger close. Paramount's internal lobbying strategy for the deal was codenamed "Project Warrior" — now part of the public court record. Rayfield is probing whether Paramount drafted or edited the DOJ's public statement supporting the deal — an unusual move for an antitrust division that typically issues statements only when challenging transactions. The U.S. DOJ gave the merger its green light last month; the EU decision deadline is July 22, the date Paramount says it won't close before. UK Culture Secretary Lisa Nandy has said she is "minded to intervene" but has not issued a formal decision. California AG Rob Bonta and other state AGs are reportedly considering their own legal challenge. A 60-day delay from today pushes the close window into mid-September — enough runway for additional state-level filings to stack. This is the moment to war-game the delay scenario seriously. If Oregon secures its order Monday, it hands every other state AG political cover and legal runway to file their own actions. The Project Warrior disclosure won't stay contained — discovery has a way of widening. Agents, producers, and executives with a stake in how this combined entity is structured should be watching Monday's Multnomah County hearing closely. Subscribe to The Option for daily updates on the business behind the business.