Warner Bros Discovery downgraded to Sell by Argus as PSKY deal gap closes

Argus Research downgraded Warner Bros Discovery to "Sell". WBD shares were marginally lower in premarket at $30.86, with the brokerage saying the price gap versus Paramount Skydance’s $31 offer has effectively closed after a multistate AG antitrust settlement. LSEG data show an average rating of 21 analysts as "hold" with a median PT of $31.