Shares of Warner Bros. Discovery shot up as much as 33% Thursday on a report by the Wall Street Journal that Paramount Skydance is prepping a takeover bid of WBD in its entirety.
According to the Journal report, Paramount Skydance’s bid will be for Warner Bros. Discovery as it exists currently — despite WBD’s plans to split into two separate companies next year (Warner Bros., comprising studios and streaming, and Discovery Global, including TV networks and Discovery+). The article said the Paramount Skydance bid would be “majority cash” but did not specify a price.
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Paramount Skydance’s offer for WBD, which cited
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