Paramount Skydance Prepares Ellison-Backed Cash Bid for Warner Bros. Discovery
Shares of Warner Bros. Discovery surged by up to 30% after reports emerged that Paramount Skydance is preparing a takeover bid for the company. The prospective offer is said to be backed by the Ellison family and involves a majority cash component.
If the bid goes through, it would include all of Warner Bros. Discovery's assets, such as its cable networks and movie studio. The bid is being explored following the recent merger of Paramount and Skydance.
The news was originally reported by the Wall Street Journal and has caused significant movement in the stock price of Warner Bros. Discovery.
The stock price increased after reports that Paramount Skydance is preparing a takeover bid for the company.
The bid is backed by the Ellison family.
The bid is for the entire Warner Bros. Discovery company, including its cable networks and movie studio.
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