Paramount asked the court to require the states suing to block its proposed $110 billion merger with Warner Bros. Discovery to post a $1.88 billion bond, arguing that the delay could leave it with unrecoverable costs after the closing was pushed to as late as June 2027. The company said it has already secured clearance from the U.S. Department of Justice's Antitrust Division (U.S. antitrust enforcer) and all other required global jurisdictions, but now faces ticking fees (quarterly merger payments that increase with delay) of 25 cents per share beginning Sept. 30, worth roughly $650 million in cash value per quarter, as well as a possible $7 billion breakup fee if the deal falls apart because of regulatory concerns. A dozen state attorneys general led by California's Rob Bonta challenged the transaction in July, and Paramount said it could pay Warner Bros. shareholders an unrecoverable $1.3 billion in ticking fees by the time trial concludes and final briefs are filed. The company also argued that further delay could jeopardize approvals it has already spent months obtaining. The story is developing.