Decision On Paramount's $1.88B Merger Bond Now Close To Ticking Fee Start Date

Live updates

1. 26d ago

   California AG Rejects Paramount's $1.88 Billion Merger Bond Request

   California Attorney General Rob Bonta rejected Paramount's request for a $1.88 billion bond intended to cover costs stemming from delays in the Warner Bros. Discovery merger. Paramount sought the funds from state attorneys general and writers challenging the deal. The decision comes as the window for a ruling closes in on the ticking fee start date. Bonta characterized the move by Paramount CEO David Ellison as "desperate" and "grasping at straws," claiming the company is seeking a "do-over" regarding the merger delays.

   Why it matters

   Paramount is fighting an antitrust battle over its merger with Warner Bros. Discovery. The company claims state-led delays have caused significant financial losses. This legal conflict has led CEO David Ellison to threaten to leave California.

   What is confirmed

   • Paramount requested a $1.88 billion bond from state attorneys general to cover costs from Warner Bros. merger delays.
   • California Attorney General Rob Bonta rejected the $1.88 billion bond request.
   • Rob Bonta described David Ellison as "desperate" and "grasping at straws."

   Still unconfirmed

   • Paramount Skydance may sell CNN.

   What to watch next

   • Court ruling on the bond request from other state attorneys general
   • Confirmation of Paramount's operational relocation to Austin
   • The start date of the merger ticking fee
   Sources used for this update (12)

   1. CNBC — Paramount seeks $1.88 billion bond from state AGs to cover costs of WBD merger delay
   2. nytimes.com — Paramount Asks States to Shoulder Costs of Delaying Warner Bros. Deal
   3. Variety — California A.G. Rejects $1.88 Billion Paramount Bond, Says Company Wants a ‘Do-Over’ on Merger Delay
   4. Los Angeles Times — Paramount demands $1.9 billion from states, citing Warner deal delays
   5. CNN — Paramount wants a $1.9 billion bond from state AGs fighting the Warner Bros. merger
   6. WSJ — Paramount Wants $1.88 Billion Bond From States, Writers Challenging Warner Deal
   7. The Hollywood Reporter — California AG Rob Bonta Says David Ellison Is “Desperate” and “Grasping at Straws”
   8. Deadline — Decision On Paramount's $1.88B Merger Bond Now Close To Ticking Fee Start Date
   9. New York Post — Exclusive | Paramount CEO David Ellison eyes Austin as potential new base after threatening to ditch California during antitrust battle
   10. World Socialist Web Site — Directors Guild and IATSE more than happy to hand Hollywood over to the oligarchs
   11. Martin Cid Magazine — Noah Wyle warns Ellison against taking Hollywood out of Hollywood as Paramount eyes the exit
   12. Barchart.com — Paramount Skydance Could Sell CNN. What That Means for PSKY Stock Investors Here.
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