The fight over who will own Superman’s corporate home is far from settled. On Monday, a coalition of 12 states led by California sued to block Paramount’s $110 billion bid to acquire Warner Bros. Discovery, arguing the combined company would control too much of the U.S. film and cable markets. Minnesota is among the states joining the challenge.
The lawsuit comes a month after the U.S. Justice Department cleared the deal without requiring any divestitures, a decision that had appeared to leave state attorneys general as the last significant obstacle standing between Paramount and the finish line.
It’s the latest twist in a saga that has played out over more than a year. Warner Bros. Discovery (WBD) first explored a sale amid broader industry upheaval in late 2025, fielding interest from multiple suitors before agreeing to a deal with Netflix. That agreement didn’t hold. WBD’s board later rejected Paramount’s hostile takeover bid while standing by the Netflix offer, only for Paramount to eventually win out with an improved proposal that shareholders approved in April.
If the deal closes, DC Comics and Superman’s film and television universe would move under Paramount ownership, with CEO David Ellison at the top of the combined company. The transaction remains tied up in litigation, with a ruling on the states’ claims expected to take months.
With the legal fight now underway, the Daily Planet wants to hear from readers directly.
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