Paramount, Warner Bros. Discovery Shares Surge 10% After State AG Lawsuit Settlement

Shares of Paramount Skydance and Warner Bros. Discovery rallied 10% each during Monday's trading session after the David Ellison-led media giant and 12 state attorneys general settled an antitrust lawsuit against the pending $110 billion merger. The agreement, which is expected to be announced later on Monday, is an attempt to address concerns that the combination of the two historic studios would create a dominant force in the theatrical film and cable channel markets and have a devastating impact on the entertainment industry. Paramount has insisted the deal would lead to more . . .