Will Warner Bros. Discovery be acquired by Paramount by the end of June 2026?

This market will resolve based on whether Warner Bros. Discovery, Inc. (including any direct successor entity holding substantially all of its media assets) is formally acquired by Paramount Global (including any direct successor entity) within the Market Period. For the purposes of this market, the Market Period runs from 18 November 2025, 00:00:00 UTC through June 30, 2026, 23:59:59 UTC inclusive (the "Market Period"). The Primary Designated Source (PDS) will be official corporate announcements and regulatory filings by Warner Bros. Discovery and/or Paramount Global, including but not limited to press releases on their investor relations websites and merger or acquisition filings with the U.S. Securities and Exchange Commission (SEC).

If, within the Market Period, Warner Bros. Discovery completes a transaction in which Paramount Global (or its direct successor) obtains majority voting control of Warner Bros. Discovery or its successor, or completes a merger in which Warner Bros. Discovery becomes a subsidiary of, or is absorbed into, Paramount Global, this market will resolve to "Yes". If no such qualifying acquisition or merger has been completed and publicly confirmed by the end of the Market Period, this market will resolve to "No". If the PDS is significantly delayed, ambiguous, or provides conflicting information, Futuur will use a Secondary Confirmation Mechanism (SCM) based on clear consensus reporting from major, reputable financial news organizations (for example, Reuters, Bloomberg, or The Wall Street Journal). Futuur will resolve this market according to the substantive economic reality of whether Paramount has acquired Warner Bros. Discovery, not minor technicalities in deal structure or document formatting, and may cancel the market if a fair and definitive resolution cannot be established.