DOJ Backs Paramount Demand That States Post $1.9 Billion Bond in Warner Bros. Merger Fight
The Justice Department says the states should post a proper bond to cover damages from the delayed $111 billion merger.
- On Tuesday, the Justice Department urged a federal court to require 12 states to post a "proper bond" covering potential damages from delays to the $110 billion Paramount-Warner Bros merger.
- A 12-state coalition led by California Attorney General Rob Bonta sued in July to block the merger, arguing it would reduce competition in theatrical and basic cable markets.
- Paramount must pay Warner Bros shareholders $7 million daily if the acquisition misses the September 30 deadline, with unrecoverable "ticking fees" potentially reaching $1.3 billion by April.
- The Justice Department argues states acting as "private persons" enforcing antitrust law must post a bond, but California and the Writers Guild of America contend this would gut their enforcement power.
- Judge Araceli Martinez-Olguin scheduled a hearing on the bond request for September 24, with the full trial set to begin March 2, months past the target closing date.
24 Articles
24 Articles
DOJ says states should post 'proper bond' in Paramount-WB merger case
The Department of Justice filed a statement of interest in the court case challenging the merger between Paramount Skydance and Warner Bros. Discovery, arguing the states suing to block the transaction should post a “proper bond” if they’re confident in their antitrust lawsuit. Paramount is asking a federal judge in California to require the plaintiffs […]
Paramount Gets DOJ Backing in $1.88 Billion Bond Fight Over Warner Bros. Merger
Paramount’s $111 billion bid for Warner Bros. Discovery is facing another delay as California-led lawsuits continue to keep the merger from closing. The deal has already run into regulatory scrutiny, competing remedies and a court schedule that stretches far beyond David Ellison’s original target. Now, the Justice Department has stepped into one of the most consequential financial disputes surrounding the stalled transaction..link { text-decorat…
DOJ Backs Paramount Demand That States Post $1.9 Billion Bond in Warner Bros. Merger Fight
The U.S. Department of Justice on Tuesday urged a federal judge to require a coalition of 12 states and the Writers Guild of America to post a bond covering potential damages from their lawsuit seeking to block Paramount Skydance’s $110 billion acquisition of Warner Bros. Discovery, according to a report by Bloomberg. Paramount has asked […]
DOJ Backs Paramount Over Merger Bond
The U.S. Government is reportedly urging a federal judge to force a dozen states, led by California, to bear the costs of the holdup caused by their lawsuits challenging the $111 billion mega-merger of Paramount Skydance and Warner Bros. Discovery. In a statement of interest, the Justice Department argues that the states must post a […]
DOJ Says States Should Post $1.9 Billion Bond in Paramount Suit
The US Justice Department is urging a federal judge to order the states and trade union challenging Paramount Skydance Corp.’s $110 billion takeover of Warner Bros. Discovery Inc. to post a bond to cover any potential late fees that result from their lawsuit.
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