Warner Bros. Discovery shares rose 3.5% after a report that California Governor Gavin Newsom is concerned about the state's antitrust lawsuit seeking to block the Paramount Skydance acquisition of Warner Bros. Paramount ticked higher by 0.7%. Newsom is concerned that blocking the $110 billion acquisition could have implications for employment in the state, according to a Wall Street Journal report citing people close to the lawsuit. Newsom's office is encouraging Attorney General Rob Bonta's office to find a settlement outside of court, though Newsom has no role in the litigation and no authority over the state AG's actions. The news follows California leading a group of 12 states in a lawsuit earlier this month to challenge the deal, and Paramount last Friday announced it will delay the acquisition until five days after a court issues a final decision or until June 1, 2027, whichever comes first.
Warner Bros Discovery IncPotential settlement or reduced opposition to Paramount deal benefits Warner Bros.
Paramount Skydance CorporationNewsom's concern may ease antitrust opposition to Paramount Skydance deal
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