Paramount Skydance is facing an antitrust lawsuit claiming its proposed $110.9 billion acquisition of Warner Bros. Discovery would harm consumers. The complaint argues the deal could lead to higher prices, less content being produced, lower-quality programming, and fewer choices for audiences, among other concerns.
The lawsuit, filed April 30 in U.S. District Court in San Francisco, represents individuals who identify as streaming subscribers, moviegoers, and news media consumers. They are seeking a court order to block Paramount’s acquisition of Warner Bros. Discovery, as well as a separate order requiring Paramount Skydance to divest any stake in Paramount Global.
Skydance Media previously acquired Paramount Global in August 2025, for $8 billion, forming Paramount Skydance.
According to the complaint, the merger “may substantially lessen competition or tend to create a monopoly.” The plaintiffs estimate that the combined Paramount–WBD entity would control 23.6 percent of the market, ahead of Disney at 21.4 percent and Universal at 20.2 percent.
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