Multiple outlets report that Paramount, backed by Skydance and Larry Ellison, is preparing a bid to acquire Warner Bros. Discovery (WBD). If completed, the deal could combine flagship streaming services such as HBO Max and Paramount+, creating one of the largest entertainment companies and reshaping competition with Netflix, Disney+ and Amazon.
What’s reported
- Paramount (with Skydance/Ellison backing) is reportedly preparing a majority cash bid for Warner Bros. Discovery. No formal offer has been filed yet.
- The acquisition would target WBD’s assets including Warner Bros. Pictures, HBO, CNN, DC properties and Discovery’s cable/networks.
- Reports say WBD shares jumped sharply after the news; Paramount’s stock also rose as markets reacted.
- Warner Bros. Discovery is planning an internal split (Warner Bros. studio/streaming and Discovery Global) through 2026 — a potential purchase could alter those plans.
Why it matters
A combined Paramount–WBD would create a streaming powerhouse with a vast content library and ad-supported platforms (Paramount+, Pluto TV, HBO ad tiers). That scale could accelerate consolidation in streaming, affect licensing, release strategies, and jobs across studios and networks. Antitrust and financing hurdles would be significant.
Current status & next steps
Sources stress that preparations are underway but no firm bid has been submitted. Expect heightened negotiations, regulatory scrutiny, and potential competing bids. Watch for official filings and statements from the companies.
Sources & further reading
- Los Angeles Times — Warner Bros. stock jumps amid Ellison takeover report
- Fox Business — Paramount Skydance prepping bid to buy Warner Bros. Discovery
- BroadbandTVNews — Paramount Skydance eyes Warner Bros Discovery
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