Paramount’s Deal Stalls in Legal Firestorm | Business and Finance News

Paramount’s David Ellison is under pressure as a major merger faces a legal roadblock from California and eleven other states, who’ve launched an antitrust lawsuit. To force a resolution, Ellison’s team is asking a judge to compel the states to post a $1.9 billion bond to cover potential costs if the deal stalls past its September deadline. Despite green lights from the Trump-era Justice Department and global regulators, these states are fiercely resisting. Paramount is already paying $7 million daily in “ticking fees” to Warner shareholders, with a looming $7 billion break-up fee if the deal doesn’t close by June 4. The legal team argues the states can post a bond to mitigate financial harm, hoping to pressure them into backing down. The judge’s ruling is imminent, as Paramount insists all regulatory hurdles are cleared and the deal will benefit consumers and workers. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/9fc71421851bebe6