California, Writers Guild ask court to reject Paramount request for $1.9 billion bond
The states and the Writers Guild say Paramount should bear the delay costs after agreeing to a $7 million daily fee.
- On Monday, California and 11 other states, joined by the Writers Guild, urged a federal judge to deny Paramount Skydance's $1.88 billion bond request tied to delays in its Warner Bros Discovery acquisition.
- California Attorney General Rob Bonta argued in the Monday filing that Paramount 'now wishes to offload its responsibility' for self-imposed delay costs, claiming the bond request should be denied.
- Paramount previously agreed to pay Warner Bros shareholders a daily 'ticking fee' of $7 million if the $110 billion merger remains unclosed after Sept 30, potentially costing $1.3 billion by April.
- Defending the request, Paramount stated that plaintiffs 'should not get a free pass' from security requirements if their antitrust challenge ultimately fails, adding 'the bond requirement exists precisely to protect against that result.'
- The merger remains blocked until the antitrust case is resolved or until June 1, 2027, though Paramount claims regulatory entities in at least 68 countries have already approved the deal.
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Paramount Trying To Pull Fast One With Bond Request In Antitrust Trial, AGs Say
Paramount believes California, New York and the other states challenging their $111 billion merger with Warner Bros Discovery should have to pony up a $1.88 billion bond to offset the “extraordinary losses” the July 13 filed antitrust case and trial will cost the home of Top Gun. A federal judge has set a September 24 […]
State AGs, WGA Ask Court to Deny Paramount's $1.9 Billion Bond Request for Ticking Fees
The group says the David Ellison-led media giant "wishes to offload its responsibility" that it voluntarily imposed on itself The post State AGs, WGA Ask Court to Deny Paramount’s $1.9 Billion Bond Request for Ticking Fees appeared first on TheWrap.
California, Writers Guild ask court to reject Paramount request for $1.9 billion bond
The State of California and 11 other states joined the Writers Guild of America on Monday in urging a federal court judge to deny Paramount Skydance's request for a $1.88 billion bond to address the cost of delay in completing its acquisition of Warner Bros Discovery .
Paramount’s Trying To Pull A Fast One With $1.88B Bond Request In Antitrust Trial, State AGs And WGA Declare
Paramount believes California, New York and the other states challenging its $111 billion merger with Warner Bros Discovery should have to pony up a $1.88 billion bond to offset the “extraordinary losses” the July 13-filed antitrust case and trial will cost the home of Top Gun. A federal judge has…
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