legal fee

Paramount Skydance Chairman David Ellison and California Atty. Gen. Rob Bonta are clashing again — this time over when the antitrust trial to determine whether Paramount can complete its nearly $111-billion takeover of Warner Bros. Discovery should begin.

In court documents Friday, Bonta and his coalition of 11 other Democrat attorneys general proposed a two- to three- week trial beginning April 5, 2027.

Ellison’s Paramount pushed back, saying the media company would like to start the courtroom action on Nov. 4.

“Our request for a November trial date is more than sufficient to give both sides the time they need to conduct discovery, gather evidence, and prepare for trial,” Paramount said in a statement that called the state attorneys general request for a springtime trial “nothing more than a stonewalling tactic.”

U.S. District Judge Araceli Martínez-Olguín, who is overseeing the high-profile case, now must pick the date.

For Paramount, the issue is hugely important.

Ellison wants to wrap up the massive Hollywood deal — bringing CNN, HBO and the Warner Bros. film and television studios under Paramount — as soon as possible. Doing so is crucial to holding together Paramount’s coalition of financiers and controlling its rising expenses, primarily legal fees and escalating obligations to Warner shareholders.

Early this year, Paramount agreed to pay Warner investors a so-called ticking fee of $.25 per share per quarter, beginning Oct. 1. The overture was aimed at winning over investors during a bidding war with Netflix. Paramount agreed to pay Warner shareholders at least $31 a share.

Those ticking fees would increase the cost by $650 million every quarter or $7 million a day. For Paramount, finalizing the transaction by year’s end would eliminate such payments in 2027.

Warner shares gained 3.3% Friday to $26.30 — well below the deal price. Paramount stock is down nearly 40% since early January; it ended the trading week at $7.96.

For the states — which have been joined in the antitrust litigation by the Writers Guild of America — setting the trial for next spring would bring advantages.

They would have more time to prepare their case while also gaining leverage over Paramount, should the two sides seek to resolve the issue out of court.

With the clock ticking, Paramount might be more willing to compromise to reach a settlement, including selling some of its hoped-for assets.

“Plaintiff States propose a fast-paced but realistic schedule that moves this case rapidly to trial while ensuring sufficient time for discovery and pretrial preparation,” the states said in the latest court documents. “A shorter timeline would be artificially compressed and risks depriving this Court of a full record on which to decide this $110 billion case.”

Paramount also faces a potential $7-billion payment to Warner Bros. should the merger collapse by next summer. Paramount is the smallest of the major media companies and acquiring Warner Bros. is key to Ellison’s ambitions to build a new Hollywood colossus.

The state attorneys general, including from Colorado, Oregon, New York, New Jersey and Nevada, have argued that the blockbuster merger — the largest in Hollywood in decades — would violate the Clayton Antitrust Act, which has been on the books for more than a century.

If the deal goes forward, just four companies — a post-merger Paramount-Warner, Disney, NBCUniversal and Sony Pictures — would control 86% of movies that are widely released (in more than 3,000 movie theaters), according to the attorneys general lawsuit.

Paramount-Warner Bros. would also own more than 50 cable channels, including CNN, TBS, HGTV, Animal Planet and Comedy Central, in addition to HBO.

The Wall Street Journal reported Friday that Gov. Gavin Newsom was not eager for a trial to take place.

Newsom has not publicly favored either side. Sources have previously told The Times that both sides have been lobbying the governor to win his support.

A Newsom spokesperson declined to discuss the Journal article, saying: “Our office doesn’t comment on anonymous sources or unverified reporting.”

Bonta — not Newsom — is leading the case.

Both hold statewide office; Bonta is running for reelection this year and Newsom is widely expected to run for president in 2028.

Paramount last week agreed to delay its acquisition amid concerns that it was poised to lose an important motion for a preliminary injunction — which would have rattled investors — and scuttled the deal until a trial could be held.

On Friday, Paramount said further delays “harm the many individuals outside this courtroom who will be denied the expanded content offerings and industry stability that a combined Paramount-WBD promises to bring.”

For his part, Bonta has said he was “eager” to move forward to a trial.

“Our challenge to the unlawful Warner Bros./Paramount merger is a clean-cut antitrust challenge through and through: it’s about protecting the vibrancy of an industry, the pockets of consumers, and the quality of films and television programs that take center stage in many of our lives,” Bonta said in a statement. “This challenge deserves careful and thorough review.”

It began as a whimsical idea that occurred to Daniel Leigh after an idyllic trip to the United States: Sell his family’s five-bedroom home in England and travel the world with his wife, Lauren Vaknine, and their two children.

So he was surprised when, a few months later, Vaknine and their children, Braxton, 10, and Viva, 7, agreed to go along with the plan.

“We’re not really travelers,” Leigh said. “We’ve always watched others travel.”

When they got back from their trip to America in March, they noticed that others had successfully raffled their homes on the British website Raffall. The online platform raffles everything from cars to homes, including one man who promoted his house to Americans last year as a “safe haven from Trump.” The couple decided to try it too.

The home is located just 20 minutes outside of London in Elstree.

(Lux Visuals Ltd.)

In June, they put their house in Elstree, about 20 minutes from London, up as a sweepstakes prize online and began selling tickets for five British pounds each, or $6.75.

“While someone new makes memories in our home, we get to go and make some of our own,” said Leigh, who has worked in educational recruitment in London for more than 20 years.

Leigh got the idea after reading a New York Times article about Imelda Collins, who raised about $1.4 million last year by raffling her two-bedroom cottage in Ireland. She sold 206,815 tickets at $6.70 each, and in October, Collins sold her cottage to Kathleen Spangler, a 29-year-old U.S. Marine Corps officer from Dayton, Ohio, who had bought three tickets on a whim and promptly forgot about them.

Leigh and Vaknine, both 42, grew up in the same village and went to high school together.

But after their family trip to New Orleans; Asheville, N.C.; and South Carolina spots Charleston, Folly Beach and Lake Keowee, they began to wonder if they wanted to stay in the same town forever. Kayaking and seeing the beauty of the Appalachian Mountains made them rethink their life.

The couple’s open kitchen was renovated in 2021.

(Lux Visuals Ltd.)

The living room.

(Lux Visuals Ltd.)

“Living on a lake was the most peaceful life I’ve ever had,” Leigh said. “It was perfect. In England, the kids spend most of their time indoors because of the weather, and we have to keep them busy with things like trampolines or indoor parks. Every family outing costs about $300. You can’t just go to the lake, the beach or hike in the mountains.”

Leigh said they have worked hard to build the life they thought they wanted, with two kids, their dog and a home. But after achieving professional success, they realized it was not the future they hoped for.

“We keep chasing goals that always seem just out of reach, simply because we feel we have to keep going,” he said. “There’s so much life to live. We’re seeing many of our parents and our friends’ parents pass away, and it makes you realize that life can feel like a conveyor belt. You either live or you just keep moving along.”

For Vaknine, a holistic wellness coach who was diagnosed with juvenile rheumatoid arthritis at age 2, selling their home and traveling the world carries even deeper meaning.

“I have been on a long journey,” said Vaknine, who has been in remission for the past decade. “From being head-to-toe disabled to being fully able-bodied, you don’t come through that without realizing that there is so much more to life than working, taking the kids to school and making dinner in the same house every day. For me, the extraordinary life isn’t about mansions, yachts or extravagance. It’s about experiencing life fully, finding deep inner joy, and I can’t do that if I stay within the same four walls in the same town I grew up in.”

Her husband added, “She lives a life of gratitude for everything. That’s what this is about: Let’s live life in the moment and do what we can when we are fully able.”

Their five-bedroom home, which is estimated at about $2 million, is on a quiet cul-de-sac with just five other houses in Hertfordshire, England. It has 2,226 square feet of living space, a south-facing garden, an open-plan kitchen, a dining and living room renovated in 2021, plus a home office and gym.

Leigh said they are not trying to make a profit, but they need to sell 550,000 tickets to cover the property’s costs, legal fees, taxes, prize money and raffle expenses.

“The ticket target has been set to cover all of the associated costs, so it’s unlikely there will be much left over,” he said. “If ticket sales exceed the target, then certainly, but that’s not the goal.”

If they don’t reach the ticket target, a winner will still be chosen and will get 50% of the money raised. They hope the winner gets the house.

One of the home’s bathrooms.

(Lux Visuals Ltd.)

One of the five bedrooms in the couple’s home.

(Lux Visuals Ltd.)

One reason homes aren’t auctioned often on the site, he said, is that you have to promote them yourself. Leigh estimates they’ve spent about $17,000 so far and are about to spend another $15,000 on Meta advertising. They also have to pay for their own legal advice.

The raffle has become a family project, and their children have helped with promotion. In one video, Braxton asks what might be the most important question about their move: “Are we bringing the dog?”

“We may have to leave him with family for a while,” Leigh said of their dog Story. “He’s the size of a small pony, so traveling with him could be a challenge. He’d definitely be missed, though.”

Working together to promote their home has been a valuable lesson for their children, Leigh said, showing them “that if you put your mind to something, you can do it. I want them to see hard work. It’s not just fun to do videos. It’s staying up till midnight, getting up early, running two jobs and making sure you don’t miss an interview. And in the end, the kids will see that life can change, and there’s a world out there if you make it happen.”

The family recently spent time in North Carolina, South Carolina and Louisiana. “We’re huge fans of America,” Leigh said. The couple hope to visit all 50 states after their home is raffled on Dec. 7.

(Daniel Leigh)

The kids aren’t worried about losing their home, Leigh said. “They are excited about going on a holiday, which we hope will include Australia, India and every state in America.”

With a record number of Americans applying for British citizenship, the couple’s raffle may be well-timed. The winner, chosen randomly by Raffall on Dec. 7, will get a mortgage-free home with all legal fees and taxes paid, plus $45,000 for household bills. The property transfer may take up to 60 days or longer according to Raffall’s terms and conditions.

Part of every ticket sale will go to Solace Women’s Aid, a British charity supporting women and children affected by domestic violence. Leigh notes that not every state can take part in Raffall competitions because of different state gambling, lottery and consumer protection laws.

At a time when many people are trying to choose between traveling or saving for a house, the couple is offering raffle entrants a chance to do both.

That’s the point, Leigh said: “If not now, when? That question changed everything.”