Warner Bros. Discovery Stock Price Falls as California Review Clouds Paramount’s $31 Deal
Warner Bros. Discovery shares closed down 1% at $27.14 Friday after the company canceled its March 20 stockholder meeting for the terminated Netflix deal and California’s attorney general confirmed an open investigation. Paramount’s $31-per-share offer remains subject to regulatory and shareholder approval. Fitch downgraded Paramount to junk status, citing high debt. The S&P 500 ended down 0.61%.