Paramount, California AG Rob Bonta to Hold Warner Bros. Merger Lawsuit Settlement Conference in Late October
Both sides must provide the court with specific dates for a two-day settlement conference by Tuesday The post Paramount, California AG Rob Bonta to Hold Warner Bros. Merger Lawsuit Settlement Conference in Late October appeared first on TheWrap .
Paramount California Attorney General Rob Bonta and the Writers’ Guild of America will meet twice in late October to discuss a potential settlement of the antitrust lawsuit against the $110 billion Warner Bros. Discovery merger. Magistrate Judge Thomas S. Hixson ordered the parties to meet and provide specific dates for the settlement conference by the end of the day on Tuesday.
Once scheduled, the in-person settlement conference will commence at 10 a.m. on the selected days. According to Bonta’s office spokesperson, a court-ordered settlement conference requires both sides to meet but does not confirm a settled agreement. Paramount expressed willingness to work constructively with plaintiffs to expedite resolution and close the transaction, allowing pro-competitive benefits to creators and consumers.
The 12-day antitrust trial is scheduled to start in March, and Paramount has agreed to postpone the merger closing until either five days after the trial outcome or June 1, 2027, whichever is earliest. A bond of $1.9 billion, covering the ticking fee and other financing costs, is requested by Paramount to be posted by the states and WGA during a hearing on September 24.
If the merger fails to close due to regulatory issues, Paramount would also owe Warner Bros. Discovery a $7 billion termination fee. The deadline for the deal closure is June 4, 2027.
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