Progress in resolving legal obstacles for the $81 billion merger is a positive development for Paramount, though the stock price remains high.

The first of these stories, Diane, is that never-ending saga between Warner Bros. and Paramount.

As for the latest developments in the Paramount and Warner deal, this is according to a report in the Wall Street Journal. There is progress towards resolving the legal obstacles and challenges facing this proposed $81 billion mega-merger.

Officials from Paramount and a coalition of states that had been seeking to block the deal reportedly held talks and settlement negotiations over the weekend. This could remove obstacles to this merger.

Among the concessions discussed was Paramount's commitment to invest $1.5 billion in film and television production in California. They can also pledge to maintain the studio locations and keep operations in California, along with a commitment to produce 30 films a year, which is approximately thirteen.

One of the enforcement mechanisms that was reportedly discussed was forcing Paramount to sell its stake in Miramax. This is in the event that it fails to meet its production obligation.

They also explored the idea of selling some of the cable channels and creating an independent board to protect CNN's editorial independence.

We know this deal faces some competition, but in terms of investor reaction today, Paramount SkyDance shares are up more than 4.5% currently.

So, the bottom line is that there has been progress regarding the obstacles that were hindering this merger. Yes, without a doubt. I think it's also a positive sign for investors that both stocks are trending upwards.

So, this is still seen in some ways as a positive story for Paramount, even though the price is very high.