Warner Bros. Discovery Is for Sale
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The Warner Bros Discovery board on Tuesday morning rejected a Paramount Skydance offer of nearly $24 per share to buy the company, a source familiar with the matter said. The mostly cash offer for the Warner Bros film and television studios,
A potential acquisition of Warner Bros. Discovery by Paramount could spark antitrust scrutiny, although President Trump’s connection to Larry Ellison might “help smooth the path for a deal,” media analysts told Newsweek.
The Warner Bros Discovery board has rejected a Paramount Skydance bid to acquire the company for nearly $24 per share, valuing the offer at just under $60 billion. This bid involved mostly cash for Warner Bros' film and television studios,
On Tuesday, WBD disclosed that it has received “unsolicited interest” from prospective acquirers and said it was open to a sale.
Benchmark analyst Matthew Harrigan even boosted his stock price target by $7 to $25 following Tuesday's news that the conglomerate's board will review various deal and other options.
Reports of a rejected acquisition offer between Warner Bros. Discovery and Paramount Skydance have renewed speculation about potential shifts in the entertainment industry. The discussions come amid broader consolidation trends across major studios.