Reports have surfaced that Paramount Skydance is considering a bid to acquire Warner Bros. Discovery in a deal that would be primarily cash-based and backed by Larry and David Ellison.
According to Bloomberg, Warner Bros. Discovery has rejected Paramount’s initial offer to buy the company. The offer was estimated at around $20 per share, which Warner Bros. Discovery deemed too low. The report does not clarify whether the bid took into account Warner Bros. Discovery’s total debt of $35.6 billion, but it is understood that Paramount is interested in acquiring the entire company.
The report also indicates that although the initial offer was declined, Paramount has several options moving forward. It could increase its offer, reach out to the company’s shareholders to encourage support for an agreement, or seek additional funding from an external partner.
Representatives from both Paramount and Warner Bros. Discovery have not yet commented on the situation. Meanwhile, Warner Bros. Discovery is working toward a planned split into two separate companies, which is expected to be completed by spring 2026. Warner Bros. Discovery is the broadcasting partner for AEW, while Paramount has an agreement to stream UFC events on Paramount+ starting next year.
