The author argues the Supreme Court taking up the Paramount Skydance/Warner Brothers merger issue, with 12 state AGs led by California AG Bonta blocking it, sets up a favorable resolution because SCOTUS is pro-business on modern media definitions and Bonta 'looks to be cooked'. A response to the Supreme Court filing is due by the 25th, and the author sees a $31 payout potentially arriving sooner than never, framing it as an arbitrage play based on time value of money. The main risk is that the merger/legal challenge is not resolved as the author expects.