Warner Bros. Discovery edged higher by 1.6% amid a post on X about optimism that the movie studio and Paramount Skydance could reach a settlement with California's AG over a lawsuit to block the $110 billion deal. There's optimism in Paramount Skydance CEO David Ellison's camp that there will be a settlement with California Attorney General Rob Bonta, according to a post on X from Charles Gasparino. Bonta's hardline stance of no talks for now is a bargaining ploy, which is why Paramount Skydance is threatening to move out of California, according to the post. Ellison also could be considering moving all his news operations, CBS, out of New York City as another potential threat, according to a separate post from Gasparino. The X posting comes after media reports on Tuesday that Ellison threatened to relocate the movie studio out of California if he can't reach a settlement with California's AG over the deal, with Paramount Skydance moving the studio to Tennessee, Texas, Georgia, or another identified state if he can't reach a deal with Bonta by Oct. 1.
Paramount Skydance Corporation Class B Common StockOptimism for settlement with California AG over lawsuit blocking deal
Warner Bros Discovery IncWarner Bros. gains on optimism for settlement with California AG
