Paramount pays $7 million a day while Warner Bros. Discovery merger stays blocked

A contractual "ticking fee" in Paramount's $110 billion Warner Bros. Discovery acquisition costs roughly $7 million per day — about $650 million a quarter — while the deal stays blocked by a state antitrust suit. If the merger collapses entirely, Paramount owes WBD a $7 billion termination fee. WBD can walk away from 4 June 2027. (Deadline, 20 Aug 2026)