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Paramount is reportedly preparing cash offer for Warner Bros
Paramount Skydance Corp. is reportedly gearing up to make a cash offer for Warner Bros. Discovery, according to The Wall Street Journal.
This move comes shortly after David Ellison took over Paramount in August.
Meanwhile, Warner Bros. had announced late last year its plan to split its cable TV business from its streaming and studio divisions.
Bid has financial muscle from the Ellison family
The bid has financial muscle from the Ellison family, with backing from the Ellison family, including Oracle co-founder Larry Ellison.
After word got out, Warner Bros.' stock soared 27% while Paramount's dropped over 7%.
Both companies—owners of big names like CBS, MTV, CNN, and HBO—are keeping quiet about the possible deal for now.