Warner Bros. Discovery Falls on Reports of State Antitrust Challenge to Paramount Deal

Warner Bros. Discovery stock fell 2.81% to $26.24 on Friday after reports of state antitrust lawsuits to block its Paramount Global acquisition. Multiple U.S. states are preparing to sue, led by California and New York. The company's trading volume reached 48.1 million shares, 122% above its three-month average. Regulatory uncertainty has introduced additional risk to the deal, which still requires U.S. and European approval.