Paramount Skydance (PSKY) said Wednesday it asked a district court to require state attorneys general and the Writers Guild of America to post a bond covering potential losses if their lawsuits blocking its merger with Warner Bros. Discovery (WBD) fail.
The company said it expects the delay could cost as much as $1.88 billion in ticking fees and additional financing costs, adding that the plaintiffs have not disputed its estimate of the potential losses.
Paramount said it has met all other closing conditions and received regulatory clearance in 69 jurisdictions, leaving the lawsuits as the only remaining obstacle to the deal.
The company said it agreed to delay closing to allow for a prompt trial but did not waive its right to seek bond protection.
It added that the Clayton Act and court rules require plaintiffs to cover financial losses if the injunction is ultimately found to be unwarranted.
