This market will resolve to "Yes" if it is announced that Warner Bros. Discovery's studios and streaming businesses will be, have been, or are being acquired by or merged with Paramount Global by June 30, 2026, 11:59 PM ET. Otherwise, this market will resolve to "No". An official announcement will qualify for a "Yes" resolution, regardless of whether the merger or acquisition is ultimately completed. Any merger or acquisition will qualify regardless of whether it regards all of Warner Bros. Discovery's studios and streaming businesses or only a subset of those businesses (including, for example, HBO / Max, Warner Bros. Pictures, Warner Bros. Television, or related streaming platforms and content libraries). The primary resolution source for this market is official information from Paramount Global and/or Warner Bros. Discovery; however, a consensus of credible reporting will also be used.