Paramount Skydance Corp., led by David Ellison, is reportedly preparing a cash-based bid to acquire Warner Bros. Discovery, with financial backing likely from the Ellison family.
If successful, the deal would merge major entertainment assets including CBS, MTV, Paramount+, CNN, HBO, Max, and Warner Bros. Studios, reshaping the global media landscape.
The news boosted Warner Bros. Discovery shares by nearly 27% to \$15.97, while Paramount’s stock fell over 7% to \$10.87. Both companies have yet to comment.