Paramount will not close its Warner Bros deal before July 22 amid Oregon probe

Paramount has pushed back the closing of its proposed $110 billion acquisition of Warner Bros until at least July 22, according to the Oregon Attorney General's Office, giving regulators more time to review the deal.

The announcement extends the timeline by another week. Paramount had previously informed Oregon officials that the transaction would not close before July 16.

On Wednesday, Oregon Attorney General Dan Rayfield asked a court in Multnomah County to require Paramount to provide additional records and delay the transaction by 60 days to allow the state to complete its review. During a preliminary hearing, Paramount updated its timeline and said the deal would not close before July 22, Rayfield's office said.

The delay also aligns with ongoing regulatory reviews in Europe.

Last week, Reuters reported that Paramount had offered concessions to address European Union antitrust concerns, including ending its film distribution joint venture with Universal Pictures. The proposed remedies are intended to help secure approval from the European Commission.

Following Paramount's proposal, the European Commission extended its deadline for deciding on the merger to July 22 from its previous target of July 7, allowing more time to evaluate the company's commitments.

The acquisition remains subject to regulatory approval in multiple jurisdictions before it can be completed. -Reporting by Jody Godoy; Editing by Edmund Klamann and Muralikumar Anantharaman/Reuters