On September 19, Paramount Skydance Corp rose 5.88% in after-hours trading, trading at $10.80/share, with turnover of $201 million. The rally was driven by the Federal Communications Commission formally approving the company's petition to allow foreign funding exceeding 25% in its planned approximately $110 billion acquisition of Warner Bros. Discovery, clearing another critical regulatory hurdle for the mega-merger.

The FCC approval comes after Paramount Skydance announced in mid-August that it had satisfied all regulatory clearances required under its merger agreement, securing approvals from nearly 70 countries globally. The only remaining impediment to the deal is a multistate antitrust lawsuit led by California and joined by the Writers Guild of America. A court-mandated two-day settlement conference is scheduled to begin October 14, with both sides required to submit settlement proposals by October 7. Paramount has also sought a nearly $1.9 billion bond from the plaintiffs to cover delay costs of approximately $7 million per day beyond the September deadline.

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