A new twist in the Paramount-WBD saga. Yesterday, Paramount asked a U.S. judge to require the 12 states and the Writers Guild of America (WGA) challenging its Warner Bros. Discovery merger to post a nearly $1.9 billion bond.
The bond would cover potential financial damages Paramount says it could incur if the plaintiffs lose their cases, with the antitrust trial currently scheduled for March 2027. Paramount argues that the prolonged litigation could leave it with substantial costs, including the so-called “ticking fee” it agreed to pay Warner Bros. Discovery shareholders if the deal does not close by September 30.
The fee amounts to $0.25 per WBD share per quarter, or roughly $650 million per quarter — about $7 million a day. Paramount estimates that the ticking fees alone could reach approximately $1.3 billion if the deal remains delayed into next year.
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