Paramount-Warner Bros. Merger Faces a Court Pause and a $7 Million-a-Day Delay Clock

A federal judge heard arguments July 17 on a 12-state coalition’s request to temporarily restrain Paramount Skydance’s proposed $111 billion Warner Bros. Discovery takeover. The judge said a decision would come by July 22. Paramount offered not to close for roughly 30 days while seeking an expedited preliminary-injunction hearing. The transaction’s economics become more painful after September 30, when reporting says Paramount would owe WBD investors more than $7 million per day in ticking fees; the deal also carries a reported $7 billion regulatory termination fee.