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Ellison Must Close $111B Paramount Deal by 2026, $7B Penalty

8/8/2026

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Summary

Story summary

David Ellison must close the $111 billion Paramount-Warner Bros. Discovery merger by February 19 2026 or face a $7 billion termination fee.
U.S. District Judge Araceli Martínez-Olguín set the antitrust trial for March 2027.
The deal imposes a $650 million-per-quarter fee on Warner Bros. Discovery shareholders starting next month.
David Ellison donated almost $1 million to the 2024 Biden-Harris campaign, later transferred to Harris.

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Story summary

David Ellison must close the $111 billion Paramount-Warner Bros. Discovery merger by February 19 2026 or face a $7 billion termination fee.
U.S. District Judge Araceli Martínez-Olguín set the antitrust trial for March 2027.
The deal imposes a $650 million-per-quarter fee on Warner Bros. Discovery shareholders starting next month.
David Ellison donated almost $1 million to the 2024 Biden-Harris campaign, later transferred to Harris.