Paramount Skydance (PSKY) Stock Rises 4% as New Jersey Democrats Move to Drop Lawsuit

TLDR

• Paramount Skydance (PSKY) stock rose nearly 4% on Wednesday after signs of weakness in the multi-state lawsuit blocking its Warner Bros. Discovery merger.
• A group of New Jersey Democrats publicly called on their Attorney General to drop out of the lawsuit.
• A court filing referred the case to a magistrate judge for a settlement conference, though California’s AG office said this is standard procedure.
• California AG Rob Bonta said settlement talks are “very possible” but accused Paramount of bad-faith negotiation tactics.
• Paramount is expanding its FAST channel lineup through a licensing deal with German streamer High View, launching on Samsung TV Plus.

Paramount Skydance (PSKY) stock jumped close to 4% on Wednesday, finishing near a gain of 4.7% at one point, as two separate developments gave investors reason for optimism around the company’s planned $110 billion acquisition of Warner Bros. Discovery (WBD).

Paramount Skydance Corporation Class B Common Stock, PSKY

The stock has still lost nearly 30% over the past year, so any positive news tends to move the needle fast.

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