Judge Extends Order Blocking White House Ban on CNN, MS NOW, Politico
SKYD is trading near its 52-week low of $7.62 (0.3% below the low).
Summary
A federal judge extended the preliminary injunction restoring White House press credentials for CNN, MS NOW, and Politico, finding the outlets likely to succeed on due process and First Amendment claims. The ruling directly affects Skydance Corp, which owns CNN, and Versant Media Group, which operates MS NOW. The judge stated there was no evidence the ban was based on national security grounds from the start, calling later justifications post-hoc. Skydance shares were down about 18% premarket before being halted, reflecting market uncertainty around the legal battle. This follows Skydance's recent acquisition of Warner Bros. Discovery and subsequent share declines.
At the time of this announcement, SKYD was trading at $7.60 on NYSE in the Trade & Services sector, with a market capitalization of approximately $10.4B. The 52-week trading range was $7.62 to $17.68. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Benzinga.