Paramount asked a federal judge to require the 12 states suing to block its $110 billion acquisition of Warner Bros. Discovery to post a $1.88 billion bond, arguing the security is needed to offset losses if litigation-driven delays ultimately prove unwarranted. The company said it has met all closing conditions after securing approvals in 68 jurisdictions and that the states' antitrust case and a separate Writers Guild of America lawsuit are the remaining barriers to closing. Under the merger agreement, Paramount must begin paying Warner Bros. Discovery shareholders an extra 25 cents a share each quarter starting Sept. 30, equivalent to roughly $650 million per quarter or about $7 million a day. Paramount said those ticking fees alone would reach about $1.3 billion by the time the March 2027 trial and post-trial briefing conclude, while a failed deal on regulatory grounds could also leave it owing a $7 billion breakup fee. California Attorney General Rob Bonta's office said Paramount accepted those risks when it negotiated the merger contract and is now trying to shift them onto the states. Judge Araceli Martínez-Olguín is expected to hear the bond request on Wednesday.