Paramount Skydance and Warner Bros. Discovery shares rise on merger settlement progress

• Paramount Skydance (NASDAQ:PSKY) and Warner Bros. Discovery (NASDAQ:WBD) shares rose after reports of progress in merger settlement talks.
• Proposed concessions reportedly include a $1.5 billion investment in California production.
• Discussions are focused on addressing regulatory concerns related to the proposed combination.

Paramount Skydance (NASDAQ:PSKY) and Warner Bros. Discovery (NASDAQ:WBD) shares gained after reports that Paramount Skydance was advancing settlement discussions with California’s attorney general over the proposed merger.

Paramount Skydance shares rose 6.3% to $10.90 and Warner Bros. Discovery shares increased 8.1% to $30 in premarket trading following the report from The Wall Street Journal.

Other measures reportedly being considered include the sale of some cable channels and the creation of a board intended to help oversee CNN’s editorial independence.

Following the announcement, Paramount Skydance's share price was up 6.3% at $10.90, while Warner Bros. Discovery shares were up 8.1% at $30 in premarket trading.

Paramount Skydance and Warner Bros. Discovery operate major media businesses, including film studios, television networks, and streaming-related assets.

Before the reported premarket gains, Paramount Skydance shares were down 23.8% year to date, while Warner Bros. Discovery shares had declined 3.5%, according to market data.