Paramount, Warner Bros. Merger To Advance With State AGs Settlement

(RTTNews) - The proposed merger between Paramount Skydance Corp. and Warner Bros. Discovery, Inc. has cleared a key hurdle and is advancing after the California-Led coalition of 12 Attorneys General reached a settlement resolving the states' lawsuit over antitrust and competition issues. The settlement by the California Attorney General Rob Bonta- led coalition with Paramount resolves antitrust concerns. It also protects the livelihoods of Hollywood workers and guarantees massive investments in domestic film production and provides enforceable guardrails to help keep cable prices competitive. Shares of Warner Bros jumped Monday following the news, and closed trading 10.8% higher at $30.80, while Paramount fell 2.94% to close at $9.91.