"Paramount Skydance is reportedly preparing a takeover offer for Warner Bros Discovery, in a bid to pull together two of the largest US legacy media conglomerates and Hollywood movie studios. Less than a month after Skydance, a production firm run by David Ellison, son of the billionaire tech mogul Larry Ellison, closed its merger with Paramount, the firm is considering other blockbuster deals. Paramount is preparing a majority cash bid for WBD that would be backed by the Ellison family, according to the Wall Street Journal, which cited unnamed sources familiar with the situation. Paramount and WBD did not immediately respond to requests for comment."
"The firm owns an array of media assets, including the Warner Bros movie studios; CNN, the news network; the DC Comics franchise; and a string of TV networks, including HBO. Paramount also owns the storied Paramount Pictures studios, as well as TV broadcasters including CBS in the US, Channel 5 in the UK, Comedy Central and MTV. David Ellison has moved quickly since sealing control of the conglomerate in August,"
Paramount Skydance is preparing a majority-cash takeover bid for Warner Bros. Discovery backed by the Ellison family, following Skydance’s recent merger with Paramount. Warner Bros. Discovery owns assets including Warner Bros studios, CNN, DC Comics and HBO. Paramount’s holdings include Paramount Pictures, CBS, Channel 5, Comedy Central and MTV. WBD shares jumped about 34% after the report. Since gaining control of Paramount, David Ellison struck deals to secure UFC U.S. broadcasting rights, an exclusive contract with the Duffer brothers, and a Call of Duty movie deal with Activision. Decisions about the future of CBS News and a controversial 60 Minutes settlement involving Donald Trump drew scrutiny.
Read at www.theguardian.com
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