Seven million dollars per day, the contracted penalty Paramount owes Warner Bros. Discovery shareholders for each day the transaction closes after September 30 according to Variety, is the run-rate exposure accruing as California Attorney General Rob Bonta canceled Monday's planned settlement meeting Sunday evening. Bonta accused Paramount of leaking and misrepresenting the substance of a Friday negotiating session, saying the company had demonstrated a lack of good faith.
"As soon as Paramount stops playing games and engages sincerely, my office is happy to meet again," Bonta said in a statement to the New York Times.
Coalition and the concentration claim
Bonta leads a 12-state coalition that filed suit last month to block the Paramount-Warner Bros. Discovery deal; the partner states are Arizona, Colorado, Connecticut, Massachusetts, Minnesota, Nevada, New Jersey, New Mexico, New York, Oregon, and Washington. The coalition argues a combined entity would hold roughly a third of wide-release film distribution and a comparable share of basic cable TV programming, concentration the states characterize as presumptively illegal.
Bonta had previously said any resolution would require divestitures or spin-offs. He also charged that Paramount tried to redirect early discussions to subjects outside the complaint's scope, the streaming market and CNN among them. Paramount has maintained the deal is pro-competitive and has called state opposition politically motivated.
Financial exposure and the bond motion
| Item | Figure | Status |
|---|---|---|
| Per-day penalty past Sept. 30 | ~$7M | Contractual, per Variety |
| Bond sought from plaintiff states | $1.88B | Paramount motion, pending |
Paramount filed a motion asking U.S. District Judge Araceli Martínez-Olguín to require the plaintiff states to post a $1.88 billion bond, arguing litigation delays impose costs the company could not recover even with a trial victory. Bonta's office rejected that argument, saying Paramount had voluntarily agreed to the existing timeline. The company has said it is confident the deal will close and has indicated it will contest the case through every available legal avenue. The antitrust trial is currently scheduled for March 2, 2027.