It’s only been a few weeks since Paramount and Skydance finally joined forces after a dramatic on-again, off-again merger process filled with regulatory scrutiny and unwanted attention from President Trump. But the newly combined home of CBS, MTV, and Nickelodeon has wasted no time making its next move—and it’s a big one.
The Wall Street Journal reported today that Paramount Skydance is preparing a takeover bid for Warner Bros. Discovery. Shares of Warner Bros. Discovery skyrocketed 28.95%, on the news, while Paramount Skydance jumped 15.55%.
Earlier this year, Warner Bros. Discovery announced plans to separate into two publicly traded companies: Warner Bros., focused on studios and streaming with Warner Bros. Motion Picture Group, DC Studios, and HBO; and Discovery Global, focusing on Discovery+ and TV networks like CNN and TNT Sports.
Warner Bros. Discovery’s management team touted the proposed separation as a way for each individual company to “leverage their strengths and specific financial profiles.” But apparently the Ellison family, which owns 100% of Skydance Paramount, feels that bigger is better: The WSJ reports that Paramount Skydance’s takeover attempt would be a majority cash bid for the entire company as it currently exists.
In a world where streaming services are a dime a dozen, it could make sense to join forces and tout more offerings on a single platform than competitors can muster. Or perhaps there’s some synergy to be found across the two companies’ various studios and channels that can lead to cost-cutting and higher profits.
Whatever the case may be, everything will be just fine as long as they don’t cancel Tulsa King.—MR
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