Paramount Skydance prepares Warner Bros Discovery takeover
House of the Dragon is a WBD-owned series
David Ellison’s Paramount Skydance is preparing to mount a bid for Warner Bros Discovery in a move that if successful would create a media monolith in the US and significantly change the streaming dynamic in the Australian market.
The Wall Street Journal broke the news of the potential bid, which was subsequently verified by other outlets. The market affirmed its belief in the report with WBD shares jumping by around 30%. Paramount shares also experienced a boost.
A 5-day view of WBD’s stock price with the recent spike (Google)
While Paramount Skydance’s market cap was around half the size of its WBD quarry before the news broke – and WBD is saddled with significant debt – the takeover is viable because Ellison’s bid is apparently backed by his billionaire father Larry Ellison.
