Paramount Skydance and Warner Bros Discovery rise after state settlement
Shares rose as Paramount Skydance (PSKY) and Warner Bros Discovery (WBD) gained after PSKY settled with 12 U.S. states over its $110 billion acquisition, including plans for independent editorial boards for CNN and CBS and a pledge of 30 annual movie releases.
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 calls for independent editorial boards for CNN and CBS and a pledge for 30 annual movie releases, according to the source, removing a major hurdle for the deal. The settlement also allows PSKY to 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.
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