Paramount, Warner Bros gain after settlement with US states
21/09/2026 16:38
BUZZ-Paramount, Warner Bros gain after settlement with US states Updates
** Shares of media giants Paramount Skydance PSKY.O and Warner Bros Discovery WBD.O rise; PSKY up 8.3% at $11.1 and WBD gains 10% to $30.6
** A person familiar with the matter told Reuters that PSKY has settled with 12 states that sued to block its $110 billion acquisition of WBD
** The settlement includes creating independent editorial boards for CNN and CBS and a pledge for 30 annual movie releases, clearing a major hurdle for the deal, source says
** A settlement helps PSKY avoid a $7 mln daily fee it would have owed to Warner Bros shareholders for each day the deal did not close past Sep 30
** YTD, Including session's move, PSKY stock down 17% while WBD had risen 6.1%
(Reporting by Anand Gopal and Prathik Jayaprakash in Bengaluru)