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Kevin Dietsch/Getty Images
2025-09-11T18:42:57Z
Shares of Warner Bros. Discovery surged on Thursday.
The stock rallied on a report that Paramount Skydance is preparing a bid for the company.
Warner soared as much as 37%, while shares of Paramount Skydance rose about 10%.
A potential major shakeup in the media landscape is driving a monster rally in Warner Bros. Discovery shares on Thursday.
The media giant’s stock rallied as much as 37% on a report from the Wall Street Journal that said Paramount Skydance was preparing a mostly cash bid for the company. Shares were up more than 60% year-to-date at intraday highs. Paramount Skydance shares also jumped about 10% on the report.
A takeover of Warner Bros. Discovery would be another big merger in the space following the recent deal between Paramount and Skydance this summer. Details of the deal haven’t yet surfaced, but the Journal said a bid would be for the entire Warner Bros. Discovery business, including cable TV networks and its movie studios.
Paramount Skydance is run by David Ellison, the son of billionaire and Oracle co-founder and CTO Larry Ellison, who became the world’s richest person for the first time ever on Wednesday.
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