Paramount shares climbed 4.8% to reach $10.70, while Warner Bros. Discovery saw a steeper ascent of 6.9%, closing at $29.72. The outcome of these discussions remains the primary driver for shareholder sentiment in the sector.

Elsewhere, Accenture secured a $2 billion agreement with AI developer Anthropic to embed safety protocols directly into its internal architecture, a move that boosted its stock by 7.1% to $194.11. Meanwhile, the pharmaceutical sector saw movement as the FDA granted approval for Amneal Pharmaceuticals' generic lanreotide, a treatment for hormonal conditions. The news lifted Amneal shares 2.9% to $19.26.