Paramount Skydance filed a motion in California court Monday demanding that 12 U.S. states and the Writers Guild of America post a $1.9 billion bond to cover financial losses stemming from the judicial halt of its proposed $110 billion acquisition of Warner Bros. Discovery, according to court documents and statements from the company.
The states, led by California and New York, filed a lawsuit in July to block the merger. They argue the deal would reduce competition in the film industry and result in job losses. The acquisition is financed with Middle Eastern oil resources, according to the states' legal filings.
In its motion, Paramount stated that the court order preventing the deal's closure "imposes substantial costs on Paramount, which would otherwise be in a position to consummate the merger." The company requested that the defendants deposit the bond "in relation to their pending litigation."
Paramount is controlled by David Ellison, whose billionaire family is allied with U.S. President Donald Trump. The company launched the billion-dollar offer to acquire the legendary Hollywood conglomerate.
The 12 states contend that the merger would harm competition in the cinematographic industry. The Writers Guild joined the legal challenge alongside the state plaintiffs.
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