Paramount's Warner Bros. Discovery deal risks a daily penalty
The move
Paramount Skydance's $31-per-share cash deal to buy Warner Bros. Discovery must close by Sept. 30 or Paramount owes WBD shareholders a ticking fee that accrues daily on top of that price. A group called Block the Merger is still fighting the deal in court, with amicus briefs due Sept. 25.
Why it matters
Every day past Sept. 30 raises the price Ellison-backed Paramount pays for WBD, on top of the legal costs of fighting off the merger challenge.
The bear case
The fee is small day to day, and Paramount has already shown it's willing to pay to keep the deal moving rather than let it collapse.
What to watch
Whether the deal closes by Sept. 30, and the outcome of the Sept. 25 amicus filings.