California antitrust probe throws fresh doubt on Paramount’s $110 billion Warner Bros Discovery deal
California Attorney General Rob Bonta confirmed an open investigation into Paramount Skydance’s planned $110 billion acquisition of Warner Bros. Discovery. Paramount agreed to pay $31 per share in cash, with a ticking fee if the deal closes after Sept. 30, 2026. Fitch downgraded Paramount’s credit rating to junk, citing leverage risks. Warner Bros. Discovery shares fell about 1% to $27.95 in early trading.