Parties Lay Out Key Dates For Pending Paramount

Key Points:

• Attorneys for both sides in the Paramount and Warner Bros. Discovery merger antitrust trial have proposed key dates, with fact discovery set to begin August 17 and close January 8, ahead of a March 2-19 trial.
• The trial timeline risks costing Paramount over $1 billion in daily fees, as they owe $7 million per day to WBD if the deal does not close after September 30, and face a $7 billion termination fee if the deal expires on June 4.
• Various stakeholders, including California governor candidate Xavier Becerra and unions like the Directors Guild of America and IATSE, have called for a settlement with proposed conditions to avoid prolonged litigation.
• The parties are engaging in settlement discussions and considering alternative magistrate judges for a settlement conference, a common step before trials.
• Disputes remain over trial logistics, such as how to divide the 12 trial days between the state attorneys general and the Writers Guild of America versus Paramount and WBD, with a final pretrial conference scheduled for February 24.