Shares of WBD and PSKY climbed as Paramount enters critical settlement talks with state attorneys general to clear antitrust hurdles, potentially requiring theatrical output guarantees and the sale of its Miramax interest to finalize the $110 billion merger.
Shares rose over 9% on reports of advanced settlement talks that could clear a major regulatory hurdle to the acquisition.
Shares gained over 7% as settlement negotiations with the California Attorney General reduce antitrust uncertainty around the proposed Warner Bros. Discovery acquisition.
Warner Bros. Discovery and Paramount Skydance shares surged in early Monday trading following reports of advanced settlement negotiations with the California Attorney General. The proposed deal aims to resolve antitrust litigation that has stalled the $110 billion merger, with potential conditions including annual theatrical release quotas and the divestiture of a stake in Miramax.
A coalition of 12 state attorneys general, led by California's Rob Bonta, filed suit in July on antitrust grounds, citing concerns over market consolidation and the potential impact on competition in the entertainment industry.