Paramount Skydance preparing second bid for Warner Bros. Discovery - report

[Warner Bros. Discovery Upfront 2022 - Show]
Mike Coppola/Getty Images Entertainment

Paramount Skydance (NASDAQ:PSKY [https://seekingalpha.com/symbol/PSKY]) is preparing a second bid for Warner Bros. Discovery after its initial bid was rejected, according to a Los Angeles Times report [https://www.latimes.com/entertainment-arts/business/story/2025-10-12/warner-bros-discovery-sale-talks-heat-up-board-rebuffs-paramount-initial-bid]on Sunday, which cited a person familiar with the matter. Warner Bros. Discovery shares rose 4% in premarket trading.

Billionaire Oracle Chairman Larry Ellison has agreed to help finance an offer from Paramount Skydance, which is run by his son David Ellison, according to the report.

The update comes after Bloomberg reported on Sunday that Warner Bros. Discovery (NASDAQ:WBD [https://seekingalpha.com/symbol/WBD]) initially rejected [https://seekingalpha.com/news/4503454-warner-bros-discovery-is-said-to-reject-paramount-skydance-s-takeover-bid]Paramount Skydance's (NASDAQ:PSKY [https://seekingalpha.com/symbol/PSKY]) bid for roughly $20 a share in recent weeks.

Paramount (PSKY [https://seekingalpha.com/symbol/PSKY]) is said to be weighing several options to keep its pursuit alive, including raising the offer price, appealing directly to Warner Bros. (NASDAQ:WBD [https://seekingalpha.com/symbol/WBD]) shareholders or bringing in a financial backer to strengthen its bid, according to the Bloomberg report.

Bloomberg previously reported that Paramount (PSKY [https://seekingalpha.com/symbol/PSKY]) has discussed potential funding support with Apollo Global Management (NYSE:APO [https://seekingalpha.com/symbol/APO#hasComeFromMpArticle=false#source=section%3Amain_content%7Cbutton%3Abody_link%7Cfirst_level_url%3Anews]).

MORE ON WARNER BROS. DISCOVERY, PARAMOUNT SKYDANCE CORPORATION

* Paramount Skydance: Sunny Skies Ahead, Long-Term Bet [https://seekingalpha.com/article/4827677-paramount-skydance-sunny-skies-ahead-long-term-bet]
* Warner Bros. Discovery: Stock Price Action Points To A Market Valuation Weakness [https://seekingalpha.com/article/4827581-warner-bros-discovery-stock-price-action-points-to-a-market-valuation-weakness]
* Wall Street Lunch: NFL Eyes Bigger TV Bucks - Soonest [https://seekingalpha.com/article/4825528-wall-street-lunch-nfls-goodell-considers-renegotiating-tv-deals-with-media-partners]
* Goldman's 30 stocks with signs of froth [https://seekingalpha.com/news/4503580-goldmans-30-stocks-with-signs-of-froth]
* ‘Tron: Ares’ powers to No. 1 with $33.5M debut, igniting fall box office [https://seekingalpha.com/news/4503470-tron-ares-powers-to-no-1-with-33_5m-debut-igniting-fall-box-office]