Paramount Demands $1.88 Billion Bond in Merger Delay Fight

Paramount Skydance asked a federal judge on Monday to require 12 states and the Writers Guild of America to post a $1.88 billion bond over litigation delaying its planned acquisition of Warner Bros. Discovery. Paramount said the bond would protect it against losses if the merger ultimately proceeds after the antitrust challenge. The company estimates it will owe Warner shareholders about $7 million daily in ticking fees after September 30, reaching roughly $1.3 billion by April, while additional delay could produce $1.7 billion in fees through June 1, 2027, plus $190 million in financing costs. California Attorney General Rob Bonta rejected the request, saying Paramount and Warner agreed to the fee provision themselves. The states sued in July, alleging the $110 billion transaction would unlawfully reduce competition in film distribution and cable television. The Justice Department and international regulators have approved the deal, but litigation remains unresolved in the United States.