Overview

• Forbes reports the newly merged Paramount Skydance is rumored to be preparing a preemptive bid for Warner Bros. Discovery, though no formal offer has been disclosed.
• Collider, citing Puck News, reports Netflix is considering a move focused on Warner Bros. Discovery’s studio and streaming operations, a scenario that remains unconfirmed.
• Warner Bros. Discovery has announced plans to separate into Warner Bros. and Discovery Global by April 2026, a restructuring that could reshape deal timing and scope.
• Any large transaction would likely face aggressive antitrust review by the Department of Justice and Federal Trade Commission, with potential concerns about news concentration involving CNN alongside CBS.
• The appeal centers on Warner Bros.’ prized franchises such as Harry Potter, DC, The Lord of the Rings and Friends, even as analysts warn further consolidation could reduce output and cost jobs.