Warner Bros. Discovery Emerges as Takeover Target Amid Media Consolidation Wave
Benchmark analyst Matthew Harrigan reaffirmed Warner Bros. Discovery as his top pick despite Paramount Skydance's potential all-cash acquisition bid. The $18 price target reflects organic growth potential, though shares surged 16.7% post-announcement to a 52-week high.
Media industry consolidation accelerates as streaming wars intensify. Paramount's sports portfolio and transition strategy position it as a logical suitor, though competition from tech giants like Apple or Amazon could trigger a bidding war.