Paramount Skydance Corp. is reportedly working with an investment bank on a potential bid for Warner Bros. Discovery, according to Benzinga. Warner Bros. Discovery has not received a formal proposal yet, but sources told CNBC an offer could come as early as next week. Warner Bros. Discovery plans to separate its global television business from its studios and streaming operations by April 2026. Paramount Skydance’s proposed all-cash bid would cover the entire company, as buying before the split requires acquiring WBD outright. Warner Bros. Discovery shares surged 28% and Paramount Skydance rose 15% after takeover reports. A merger would unite Paramount Skydance’s assets CBS, Nickelodeon, MTV, BET, Paramount+ with CNN, TNT, and HBO.
