Paramount Skydance Corporation Class B Common StockCalifornia AG and 12 states' lawsuit blocks the Warner Bros acquisition, with a settlement meeting canceled and a $650M/quarter ticking fee looming.
Paramount Skydance Corporation CEO David Ellison has secured regulatory approval in 68 jurisdictions for his $110 billion bid to acquire Warner Bros. Discovery, but a lawsuit from 12 state attorneys general remains the final obstacle. California Attorney General Rob Bonta, who leads the states' case, canceled a planned settlement meeting with Ellison, citing a "lack of good faith." Paramount said it remains "hopeful" and denied being the source of leaks about the talks. Media veteran Tom Rogers said California's home constituency is "overwhelmingly against the transaction," reducing the state's incentive to settle. Paramount faces a ticking fee that could reach roughly $650 million per quarter starting September 30 and has asked a court to force the states to post a $1.88 billion bond.
Paramount Skydance Corporation Class B Common StockCalifornia AG and 12 states' lawsuit blocks the Warner Bros acquisition, with a settlement meeting canceled and a $650M/quarter ticking fee looming.
Warner Bros Discovery IncIts $110B acquisition by Paramount is stalled by the states' lawsuit, leaving the deal's outcome uncertain.
Amazon.com Inc
Alphabet Inc Class C
DoorDash, Inc. Class A Common Stock