Paramount Skydance Seeks Bond Protection As WBD Merger Faces Lawsuits
(RTTNews) - Paramount Skydance Corp. (PSKY) said it has filed reply briefs requesting the District Court to enforce bond requirements against State Attorneys General and the Writers Guild of America, who are suing to block its merger with Warner Bros. Discovery Inc. (WBD).
The company said it has met all closing conditions and secured regulatory approvals in 69 jurisdictions, leaving the lawsuits as the only barrier to completing the transaction.
Paramount noted that the Clayton Act and Rule 65 provide for a bond precisely to protect against exactly those types of losses if a court determines an injunction ultimately is unwarranted.
The filings noted that plaintiffs have not disputed Paramount's evidence of financial harm. Paramount added that the Writers Guild itself previously argued that substantial bonds are required when injunctions risk significant losses.
Paramount Skydance shares fell 0.56 percent to $10.74 in pre-market trading on the Nasdaq, after ending Tuesday's regular session 0.55 percent lower.
In pre-market activity on the Nasdaq, shares of Warner Bros. Discovery were down 0.14 percent, changing hands at $28.08, after closing Tuesday's regular session 0.46 percent lower.
