India, Sept. 21 -- Shares of Warner Bros. Discovery (WBD) and Paramount Skydance (PSKY) jumped Monday after a report said Paramount and California's attorney general were in advanced settlement talks that could remove a key hurdle to their proposed merger.
Warner Bros. Discovery are up 10% in trading, while Paramount gained 9% on Monday morning.
The Wall Street Journal reported that proposed concessions include a $1.5 billion investment in California production, commitments not to sell either studio lot and potential penalties if Paramount fails to meet a pledge to produce 30 movies annually following the merger.
Other measures reportedly under discussion include selling certain cable channels and creating a board aimed at protecting CNN...