Paramount faces $650 million quarterly fees starting September 30 as legal challenges postpone the $110 billion acquisition.
Paramount Skydance Corporation’s $110 billion acquisition of Warner Bros. Discovery remains on hold until June 1, 2027, or five days after a trial verdict, due to antitrust lawsuits. A coalition of 12 states and the Writers Guild of America seeks to block the deal, with the presiding judge expressing skepticism over its legality.
The agreement includes a $650 million quarterly “ticking fee” payable to WBD shareholders starting September 30, along with a $7 billion breakup fee if the deal collapses. Paramount has already paid $2.8 billion to Netflix to secure the original bidding war. The trial date is contested, with Paramount pushing for November 2026 and plaintiffs favoring April 2027.
The deal has cleared regulatory hurdles in 65 jurisdictions, including the U.S., EU, and China, but legal uncertainty persists as both sides prepare for a protracted court battle.