Overview
- The reported bid would cover the entire company, including the studio, the Max streaming service, and cable networks slated for an April 2026 separation.
- Warner Bros. Discovery shares jumped about 30% in afternoon trading following the report.
- Paramount Skydance and Warner Bros. Discovery declined to comment on the potential offer.
- Regulatory review would likely focus on Justice Department antitrust scrutiny rather than FCC approval, since WBD holds no broadcast licenses.
- Under David Ellison’s leadership, Paramount has pursued major sports rights such as a reported $1.1 billion-per-year UFC deal, and a completed purchase could concentrate a significant sports portfolio.