Paramount seeks $1.88 billion bond from state AGs over merger lawsuit
Paramount Skydance has requested a U.S. judge to require a $1.88 billion bond from twelve states challenging its acquisition of Warner Bros Discovery. The bond aims to cover costs associated with delays in completing the merger. Paramount must pay a daily fee of $7 million if the $110 billion merger does not close by September 30.
The trial for the states' legal challenge is set for March, and by the time final legal briefs are submitted in April, Paramount will have paid Warner Bros shareholders $1.3 billion in ticking fees. The U.S. Justice Department's approval of the deal expires on February 19. Paramount seeks the bond to recover losses if a court approves the merger, stating that the states have "ample resources" to post even a large bond.
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