Editorial companion

What stands out

Bloomberg led with state attorneys general mounting a coordinated antitrust challenge to the Paramount-Warner Bros. tie-up, a live legal risk that lands directly on Warner Bros. Discovery (WBD). Jennifer Rie laid out why those suits can stretch a deal into a multi-year slog, while other guests flagged that M&A (mergers and acquisitions) optimism is still flirting with geopolitical shocks, which is exactly how takeovers die, slowly and expensively.