Paramount, Warner Bros jump on report of settlement progress in merger fight

Shares of Paramount and Warner Bros rose following reports of progress in settlement talks regarding their merger. While California settlement discussions could potentially clear a major hurdle for the deal, some Democratic state attorneys general remain divided. Specifically, New York Attorney General Letitia James is reportedly opposed to a quick settlement in the case currently blocking the merger. The market reacted positively to the news of potential progress despite the ongoing pushback from certain state officials.