Paramount Skydance reached a settlement with California and 11 other states, clearing a major legal hurdle for its $110 billion acquisition of Warner Bros. Discovery.
Gold prices fell as expectations for further US interest-rate hikes supported the dollar.
Oil prices dropped to their lowest level in 12 days as investors looked for diplomatic progress in the Iran war and a recovery in Saudi shipments.
Bitcoin gained nearly 6% to briefly trade above $86,000 for the first time since late January as crypto short liquidations approached $800 million.
Paramount settles with US states over Warner Bros deal
Paramount Skydance on Monday reached a settlement with California and 11 other states that had sued to block its $110 billion acquisition of Warner Bros Discovery, removing a significant legal obstacle to the transaction.
Under the settlement, Paramount will spend at least $300 million more each year on domestic film production.
The company will also increase its annual film releases progressively after the deal closes.
Paramount will produce 30 movies in each of the first two years following the deal and 32 movies in each of the next three years. At least four films each year must be independent productions, while at least 20% must be blockbusters.
The agreement also requires Paramount to establish a news editorial independence board covering CBS and CNN.
California Attorney General Rob Bonta said the settlement addressed concerns around movie production and newsroom independence.
The states had sued in July, arguing that the merger could reduce competition and give the combined company greater power to raise prices across movies and television.
Paramount and Warner Bros previously said the merger could generate $6 billion in savings, while the combined company is expected to carry $80 billion in debt.
Paramount shares fell more than 2% on Monday, while Warner Bros Discovery gained more than 10%.
The Writers Guild of America also reached a settlement with Paramount, Reuters reported. The agreement includes a $17.5 million healthcare fund and protections for workers at CBS and CNN.
Gold prices fall as rate hike expectations rise
Gold prices declined on Monday as expectations for further US monetary tightening and hawkish signals from other major central banks strengthened the dollar.
Spot gold was down 0.6% at $4,349.05 an ounce, after falling more than 1% to a session low of $4,322.19. US gold futures settled 0.78% lower at $4,383.60.
The dollar extended its gains against major currencies after the Federal Reserve’s rate hike pushed it more than 1% higher last week.
A stronger dollar can make gold more expensive for holders of other currencies.
Traders were pricing in an 88% chance of another US rate hike in December, according to the CME FedWatch Tool.
Spot silver fell 0.15% to $66.12, while platinum rose 0.21% to $1,811 and palladium gained 0.23% to $1,322.5.
Oil prices fall as Saudi shipments recover
Oil prices fell to their lowest levels in 12 days as investors looked for diplomatic progress in the Iran war and monitored a partial recovery in Saudi crude shipments.
Brent crude’s November contract fell 3.6%, to $100.1 a barrel.
WTI’s October contract, which expires Tuesday, dropped 4.75%, to $95.54 a barrel.
Investors were watching this week’s United Nations meeting for signs of progress in potential peace talks between the US and Iran.
Saudi Aramco’s shipments also weighed on prices.
Tanker-tracking data showed the company loaded about 14 million barrels of crude onto seven supertankers inside the Middle East Gulf on Sunday.
Satellite data showed Saudi oil flows through the Strait of Hormuz averaged 2.9 million barrels per day over the previous six days, up from 700,000 bpd in August.
Bitcoin briefly tops $86,000
Bitcoin gained nearly 6% on Monday, briefly trading above $86,000 for the first time since late January.
The rally came alongside almost $800 million in crypto short liquidations over 24 hours.
The Kobeissi Letter described the market as being in a “new bull market,” citing a 50% Bitcoin gain over two months.
Bitfinex Alpha said further upside would require sustained buyer support, rising open interest and fresh capital inflows into US spot Bitcoin ETFs.
The research arm also said a daily close below $77,100 would invalidate its current structure to the downside, potentially exposing Bitcoin to the $76,677 True Market Mean.
Rekt Capital said Bitcoin had broken out of a cycle of lower highs that had been in place since October 2025. The analyst identified a new potential trading range between $86,681 and $93,659.
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