WARP is trading 4.1% higher in pre-market as communication-services exposure benefits from optimism around Warner Bros. Discovery’s merger with Paramount.

  • WBD rose as much as 7.9% on reports of advanced California antitrust-settlement talks that could clear a major obstacle to the $110 billion transaction.
  • Broader U.S. equity-futures gains, easing oil prices, stronger global equities, and renewed Washington-Beijing optimism are supportive; Verizon’s copper-network transition is secondary.