Warner Bros Discovery Spikes 28.95% on Cash Takeover Rumors $4.54 Billion Volume Ranks 19th in Market Activity

On September 11, 2025, , . The rally followed reports of a potential all-cash takeover bid from Paramount Skydance, a media conglomerate controlled by and his father, billionaire . The proposed deal, if executed, would merge two of Hollywood’s largest legacy studios and media assets, including WBD’s Warner Bros film studios, HBO, and CNN with Paramount’s Paramount Pictures, CBS, and MTV networks.

The move underscores intensifying consolidation pressures in the media sector, as traditional players seek to counter declining TV advertising revenue and streaming competition. WBD’s recent restructuring efforts to separate its cable and streaming operations align with broader industry trends. Analysts note that a cash-backed acquisition could offer WBD shareholders a more immediate value proposition compared to ongoing restructuring efforts led by CEO David Zaslav. However, regulatory scrutiny, particularly , remains a significant hurdle, with potential legal challenges from the DOJ under either the Trump or Biden administrations.

, partnerships with Activision and the Duffer Brothers, and a reported push to acquire Free Press, a media outlet aligned with “anti-woke” ideologies. These actions highlight David Ellison’s strategy to reshape media ownership and content direction, though they have drawn scrutiny over editorial independence, particularly at CBS News. The proposed WBD acquisition would further concentrate power in a sector already grappling with reduced competition and market fragmentation.

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