Paramount Skydance Corp. was on the brink of closing its blockbuster $110 billion takeover of Warner Bros. Discovery Inc, but now faces a legal hurdle. | Hollywood

A “ticking fee” that could cost Paramount $7 million per day will kick in if the merger doesn’t close by late September.

Paramount and Warner Bros.' $110 billion merger is paused by a US judge amid a multistate antitrust lawsuit and concerns over competition in streaming.