David Ellison announced yesterday, as financial markets closed, that the Paramount-WB merger would be paused until mid 2027 in response to ongoing antitrust concerns. The 12 intervening states successfully obtained a restraining order last Monday.

From the Gizmodo article:

Paramount has agreed to a delay of its merger with Warner Bros. Discovery after a group of 12 states sued to stop the $111 billion deal. The states, led by California, brought the lawsuit over antitrust concerns, and Paramount has agreed to close the deal until five days after a potential trial is held or June 1, 2027, whichever comes first, according to a court filing.