Panic At CNN As Paramount Seeks Elon Musk Equity Investment

A judge granted a motion to allow amicus briefs in the Paramount-Warner Bros Discovery merger case, delaying the deal's approval. Paramount and WBD oppose the delay, citing potential financial harm. The merger is valued at $111 billion. Paramount may face $7 million daily fees starting October 1 if the deal is delayed.

A coalition opposing the Paramount-Warner Bros. Discovery merger asked a judge to delay the settlement, citing concerns over its weakness and potential First Amendment issues. The coalition proposed a briefing schedule, while Paramount called the request improper and argued it lacks standing. The hearing is set for Thursday, with a deadline for Paramount to close the deal or pay $7 million daily.

Paramount Skydance plans to raise $7.5 billion in debt to fund its $111 billion Warner Bros. Discovery merger and reduce other debt. The company aims to secure $44.4 billion in additional debt, with net debt estimated at $77.2 billion post-merger. The merger is expected to close in two weeks, pending court approval.

The Block the Merger coalition filed an emergency motion to halt Paramount's $111B acquisition of Warner Bros. Discovery. The coalition, along with 1,000+ Hollywood figures, opposes the deal citing concerns over media consolidation and competition. Paramount disputes these claims, arguing the merger would foster competition and boost content investment. The deal faces ongoing legal challenges and scrutiny from various stakeholders.

Warner Bros. Discovery (WBD) and Paramount Skydance (PSKY) shares reacted differently on Sept. 21 after Paramount settled a lawsuit with 12 states, clearing a major hurdle for its $110B acquisition of WBD. WBD shares rose 10.8% to $30.80, while PSKY dropped 2.9%. The deal requires the merged company to release a set number of films annually and invest in U.S. production. Paramount aims for $6B in annual synergies within three years, pending judicial approval.

Paramount Skydance Corp. is preparing to sell $49 billion in debt to finance its $110 billion takeover of Warner Bros. Discovery Inc., following the resolution of lawsuits. The debt package includes investment-grade bonds, loans, and second-lien bonds, targeting a broad range of investors. Bankers expect the debt to sell quickly, using financial metrics from earlier in the year. Regulatory approvals have been secured, making the acquisition likely to close soon.