Warner Bros Discovery Stock Surges on Takeover Speculation
Warner Bros Discovery (WBD) shares skyrocketed nearly 29% following reports of a potential takeover bid by Paramount Skydance. The Wall Street Journal revealed the entertainment giant could become the target of a majority-cash acquisition backed by the Ellison family, including Oracle co-founder Larry Ellison.
A successful merger WOULD create an entertainment behemoth combining HBO, DC Studios, and Nickelodeon Movies under one roof. The move appears designed to preempt competing offers from tech and media conglomerates eyeing Warner's valuable assets.