On September 21, Paramount Skydance Corp rose 5.78% in pre-market trading, trading at $10.79/share, with turnover of $6,134.85. The rally was driven by multiple positive developments surrounding the company's approximately $110 billion merger with Warner Bros. Discovery.

According to sources familiar with the matter, settlement negotiations between Paramount and multiple states over the Warner Bros. acquisition have entered their final stages, with an agreement framework largely in place and a deal potentially announced as early as this weekend or Monday. The terms under discussion reportedly include commitments to maintain operations in California, establish independent content oversight for CNN, and guarantee a specific number of theatrical film releases.

Simultaneously, the U.S. Federal Communications Commission formally approved Paramount's petition to allow foreign ownership exceeding the 25% threshold in the proposed transaction, removing another critical regulatory barrier. Additionally, Paramount is in discussions to divest certain cable television channels, including Comedy Central, to satisfy regulatory requirements and facilitate deal closure. The company had previously cleared all regulatory conditions across nearly 70 countries, leaving the state attorneys general lawsuit as the sole remaining impediment to completing the merger.

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