Welcome to See King Alpha's Wall Street breakfast, where we cover the top news for investors every morning.

Good morning. Today is Tuesday, July 2nd. I'm Julie Morgan.

Paramount Global is reportedly in discussions with a potential partner.

A judge tells the Biden administration about LNG applications,

you can't do that.

And Kons is one of the biggest movers of the day pre-market, but it's not positive.

Paramount Global is reportedly in discussions to merge Paramount Plus with a partner and Warner Brothers Discovery is again coming up as a potential match.

CNBC reported that Paramount is talking with other industry companies about such a venture and along

with Warner Brothers those talks are said to have included Comcast whose Peacock service is of similar

competitive scale to Paramount Plus.

A combination of Paramount Plus with a service like Warner Brothers Max and or Peacock would give a firmer base with which to compete with the bigger players in Netflix and Disney Plus Hulu E-SPN.

Along with stabilizing churn, a joint venture that included co-ownership would also take some streaming losses off the larger company balance sheet.

Meanwhile, Paramount Global has reportedly caught the eye of Media Mogul Berry Diller and his company IAC.

According to a New York Times report late Monday,

which cited people familiar with the matter,

Diller is exploring a bid to take control of Paramount.

The report says IAC has signed a

non-disclosure agreement with national amusements, Paramount's

controlling shareholder. Pre-market Paramount is up 3%.

A U.S. District Judge on Monday blocked the Biden

administration's ban on approving applications to

export liquefied natural gas,

...