David Ellison's Paramount wants its WBD merger challengers to put up nearly $1.9 billion
Paramount Skydance wants those suing to stop its WBD deal to post a nearly $1.9 billion bond, saying it will miss out on "significant" cost savings.
Warner Bros. Discovery deal is on hold following legal challenges from 12 states and the Writers Guild of America, who claim the merger is anticompetitive. CEO David Ellison of Paramount Skydance is now demanding that the states and the guild post a bond of nearly $1.9 billion to cover potential costs if the deal fails. Paramount will owe about $7 million per day for each day the merger does not close, with about $1.3 billion of that amount being unrecoverable by the time the trial concludes.
Despite securing approval from other regulatory bodies, including the US Department of Justice and the European Commission, there are doubts about whether a judge would order the plaintiffs to post such a large bond. An entertainment lawyer stated that it is very unlikely Paramount's argument would be successful in court.
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