Paramount Skydance Likely Preparing $22 To $24 Per Share Bid For Warner Bros. Discovery: Report

Paramount Skydance Corp (PSKY) is reportedly preparing a takeover bid for Warner Bros. Discovery (WBD), with an offer between $22 and $24 per share. 

According to sources cited by a CNBC report, the takeover proposal may arrive later than some expected. The report stated that the formal bid could be in the form of 70% to 80% cash, partly backed by Oracle co-founder Larry Ellison. The remaining part could be paid via stock, it said.

Following the report, Paramount Skydance stock traded over 1% higher on mid-morning Friday. On Stocktwits, retail sentiment around the stock shifted to ‘bearish’ territory from ‘neutral’ the previous day. At the same time, message volume changed to ‘normal’ from ‘high’ levels in 24 hours. 

If it succeeds, this move would amplify Paramount Skydance’s media empire, combining film studios, cable networks, and streaming platforms. Paramount had recently completed its merger with Skydance in August, combining its legacy broadcasting, cable channels, and film production operations.

Last year, Warner announced a plan to divide its operations into two divisions, one focusing on traditional cable TV and another on streaming and studios. In July, the company unveiled the official names and leadership structures for its two soon-to-be independent companies, which are scheduled to emerge in mid-2026. 

‘Streaming & Studios’ will become ‘Warner Bros’, encompassing flagship assets such as Warner Bros. Television, Warner Bros. Motion Picture Group, HBO, HBO Max, DC Studios, and the company’s iconic film and TV libraries. 

Meanwhile, ‘Global Networks’ will take on the name ‘Discovery Global’, consolidating international television and digital brands, including CNN, Discovery, TNT Sports, Bleacher Report, and Discovery+, across more than 200 countries and territories.

Paramount Skydance stock has gained over 54% since its merger in August. 

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