Warner Bros. Discovery in focus as California cancels Paramount settlement talks
+0.53% to $28.70 from $28.55
What moved WBD
- California Attorney General Rob Bonta canceled settlement talks scheduled for Monday, accusing Paramount of leaking details of a prior meeting and negotiating in bad faith.
- Bonta, who leads a 12-state coalition suing to block the merger, said he would meet again once Paramount “stops playing games and engages sincerely.”
- Paramount denied being the source of the leaks.
- The dispute follows Paramount’s request that the 12 states and the Writers Guild of America post a $1.9 billion bond to cover potential damages from the merger delay, including roughly $7 million in daily “ticking fees” owed to Warner Bros. Discovery shareholders.
Sources: Variety · NBC News · Bloomberg