Paramount CEO David Ellison says he is "open" to settling a lawsuit against its merger with Warner Bros. Discovery, but believes "we will win at trial."

Paramount’s streaming service continued to grow in the latest quarter, helping to narrowly offset another sales decline for its television unit.

A federal judge has set a March 2 trial to determine whether David Ellison's Warner Bros. takeover can move forward

Almost one year exactly from Skydance's acquisition of Paramount, the merged company reported mixed quarterly numbers with strong streaming, tough theatrical comps and an ongoing drop in linear television.

The judge hearing the antitrust case seeking to block the Paramount-Warner Bros. Discovery merger has issued a preliminary scheduling order, with a trial set to start in March 2027 — considerably later than Paramount was hoping for.

The proposed merger between Warner Bros. Discovery and Paramount has taken a new turn in California federal court. A federal judge has set the schedule for the antitrust trial, and it’s not what Paramount wanted.

This pause in the merger is not the beginning of the end, but more likely the end of the beginning of the process.

Paramount CEO David Ellison said antitrust litigation filed by 12 states and the WGA isn't about market share -- but about 'whether I can be trusted as a steward of Warner’s CNN.'

"We believe that the facts and the law are on our side, and the trial date was just set for March of next year. And as it relates to the financing, all that is in place, there's nothing at risk," CEO David Ellison said Tuesday.

CNBC's David Faber delivers his latest Faber Report on the proposed Paramount-Warner Bros Discovery merger. Got a confidential news tip? We want to hear from you. Sign up for free newsletters and get more CNBC delivered to your inbox Get this delivered to your inbox,