Paramount seeks $1.88 billion bond from states and WGA over Warner Bros. deal delay

Paramount Skydance filed a motion asking U.S. District Judge Araceli Martinez-Olguin to compel twelve states and the Writers Guild of America to post a $1.88 billion bond as security for the company’s potential losses if its proposed acquisition of Warner Bros. Discovery is prevented by ongoing antitrust litigation. The request, first made on August 17, was reiterated on Tuesday, emphasizing that the bond would protect Paramount from a daily “ticking fee” of $7 million payable to Warner Bros.

Discovery shareholders starting October 1. The states, with California Attorney General Rob Bonta at the forefront, argued that the financial risk is self-inflicted and that requiring such a bond would let the merger parties evade accountability. A hearing on the bond request is scheduled for September 24, while the trial on the antitrust claims is set for March 2, 2027, and the merger remains on hold until then.

Paramount cited the Clayton Act and Rule 65(c) as legal bases for the bond, asserting that the plaintiffs must bear the financial consequences if their challenge fails. The filing also referenced a prior case involving Nexstar and Tegna, where a nominal $10,000 bond was ordered, highlighting the contrast in judicial discretion.