Warner Bros. Discovery jumps on report Paramount Skydance preparing offer

[Warne in Kanata, Ottawa, ON, Canada.]
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Warner Bros. Discovery (NASDAQ:WBD [https://seekingalpha.com/symbol/WBD]) jumped 21% on a report that Paramount Skydance (NASDAQ:PSKY [https://seekingalpha.com/symbol/PSKY]) is preparing a majority cash bid for the entertainment giant.

The offer will be for the entire company, including its cable networks and movie studio, according to a WSJ report [https://www.wsj.com/business/media/paramount-skydance-prepares-ellison-backed-bid-for-warner-bros-discovery-0b921c20?gaa_at=eafs&gaa_n=ASWzDAiMKma9aDsXkAwAgWvXNwsV52muEGH-ZLEUAl8hdV9zdIAOnK7iNNnlIcxUpa0%3D&gaa_ts=68c30c9c&gaa_sig=KzW5YvNWGY_ueeY4-UNrtX18dvSnrnx44IJ1vJeAa4zV23T5xRByBv_393qyGtCMSGcSsL71sPKIt_jWsSpSyg%3D%3D]on Thursday, which cited people familiar with the matter. The bid will be backed by the Ellison family.

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