Courts have historically side-eyed issuing massive bonds in merger cases, particularly when the government challenges the deal. The states have stressed that Paramount proposed the term to win over shareholders.

Paramount Skydance reiterated its demand that the 12 states and the WGA -- whose antitrust lawsuits seeking to block its takeover of Warner Bros. Discovery -- post $1.88 billion…

Courts have historically side-eyed issuing massive bonds in merger cases, particularly when the government challenges the deal. The states have stressed that Paramount proposed…