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Shares in Warner Bros. Discovery rose nearly 29% on Thursday following reports that Paramount Skydance Corp. is preparing a takeover bid for the media giant. The Wall Street Journal cited sources familiar with the matter, noting that the proposed cash offer—backed by the Ellison family—could create a combined entity valued at approximately US$60 billion.
Warner Bros. shares closed at $16.17, up $3.63, after briefly reaching a four-year high of $17.24. The surge lifted the company’s market capitalization to $40.03 billion.
The potential acquisition would include Warner Bros.’ cable networks and film studio, positioning the merged group to compete more aggressively with industry leaders such as Netflix, Disney, and Amazon. Paramount Skydance, which recently completed an $8.4 billion takeover of Paramount Global, has been expanding rapidly under CEO David Ellison, including securing a $7.7 billion deal for U.S. broadcast rights to UFC.
Paramount Skydance shares also climbed 15.55% to $17.46, valuing the company at $7.68 billion. Its portfolio includes major entertainment brands such as CBS, MTV, Nickelodeon, and Paramount+.
The deal, if finalized, would mark a significant consolidation in the entertainment industry, driven by the Ellison family’s growing influence and deep financial backing.
Warner Bros Symbol by digital-news.it
