Paramount Skydance is working with an investment bank as it prepares an offer for Warner Bros. Discovery, according to people familiar with the matter. Warner Bros. Discovery shares soared Thursday afternoon. The Wall Street Journal first reported the recently merged Paramount Skydance was preparing a takeover bid for the entirety of WBD. Signage at the Warner Bros. Discovery headquarters in New York, US, on Thursday, June 12, 2025. Victor J. Blue | Bloomberg | Getty Images
Paramount Skydance is working with an investment bank as it prepares an offer for Warner Bros. Discovery, according to people familiar with the matter.
Warner Bros. Discovery had yet to receive an offer as of Thursday, according to people familiar with the matter, who spoke on the condition of anonymity to discuss nonpublic dealings.
Shares of Warner Bros. Discovery soared more than 25% on Thursday after an initial report from the the Wall Street Journal that the recently merged Paramount Skydance was preparing a takeover bid.
Representatives for Paramount and Warner Bros. Discovery declined to comment.
Shares of Paramount Skydance