Overview
- Multiple outlets cite informed sources on the potential offer, with no formal bid submitted and the plans still subject to change.
- Bloomberg reports Paramount is working with an investment bank but has not yet approached Warner Bros. Discovery.
- Warner Bros. Discovery shares jumped as much as roughly 30–37% after the reports, while Paramount gained more than 10%.
- A combination could unite major studios and streaming assets and could place CNN under Ellison-linked ownership, likely inviting antitrust and political review.
- The reported proposal targets the entire company before its planned separation of studios and streaming from cable networks, shortly after Paramount completed its Skydance deal.