Paramount Skydance is seeking a $1.88 billion bond from the twelve state attorneys general, led by California’s Rob Bonta, who are challenging the proposed $110 billion merger with Warner Bros. Discovery. The U.S. Department of Justice and all other relevant global regulators have already approved the deal, but Paramount agreed to delay closing until June 2027 while the trial proceeds. Ticking fees of 25 cents per share, per quarter, have applied since September 30, amounting to roughly $650 million per quarter and an estimated total of $1.3 billion by the end of the trial. If the merger falls apart due to regulatory concerns, Paramount would owe WBD a $7 billion breakup fee.
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