On Thursday morning, shares of Warner Bros. Discovery surged over 25% following rumors that Paramount, financed by Larry Ellison, might make a cash offer for the corporation, which encompasses HBO, CNN, and Warner Bros. Studios.
On Thursday morning, stocks of Warner Bros. Discovery experienced a significant increase of over 25%, sparked by speculation that Paramount, backed by Larry Ellison, could potentially extend a cash offer to acquire the company responsible for HBO, CNN, and Warner Bros. Studios.
Approximately a month ago, the Ellison family in partnership with RedBird Capital Partners became the new owners of Paramount. They have expressed their intent to make significant changes as they strive to restore Paramount to its past greatness. David Ellison, who is Larry’s 42-year-old son, currently holds the positions of chairman and CEO at Paramount.
According to The Wall Street Journal, Paramount’s proposed acquisition encompasses the entire corporation, including its film studio, streaming platforms, and cable networks. Meanwhile, Warner Bros. Discovery is in the midst of transforming their cable channels into a standalone company, a move that Warner Bros. Discovery CEO David Zaslav predicts will be finalized by April of next year.
Hollywood Inc.
Despite facing challenges at Warner Bros. Studio during the last quarter, the company’s streaming sector experienced significant growth, adding a remarkable 5.3 million new subscribers.
Representatives of Paramount and Warner Bros. Discovery declined to comment.
On Wednesday, Warner Bros. Discovery’s stock closed at $12.54. By midday trading on Thursday, it had climbed up to approximately $16 per share.
Paramount Skydance shares also climbed 7% to around $16.30.
This is a developing story.
Hollywood Inc.
The company is providing an exit package for vice presidents and other staff members based in Los Angeles and New York, should they choose to depart. This decision was made about a month following the acquisition of Paramount by the Ellison family and RedBird Capital Partners.
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2025-09-11 21:31