Media: Paramount Skydance media holding wants to acquire Warner Bros. Discovery
Earlier, media insiders reported that the management of Warner Bros. Discovery Media: media holding company Warner Bros Discovery is considering selling some of its game studios, including the creators of Hogwarts Legacy and Mortal Kombat, including unnamed game studios.
But the changes could turn out to be much more sweeping.
Here's What We Know
According to The Wall Street Journal, media holding company Paramount Skydance wants to acquire Warner Bros. Discovery and is submitting a bid to acquire it.
It is expected that the deal will be executed in cash with the participation of the family of American billionaire Larry Ellison - co-founder and head of Oracle Corporation.
The stock market instantly reacted to the announcement and the value of shares of Warner Bros. Discovery rose more than 30 per cent.
Both Paramount Skydance and Warner Bros. Discovery have so far declined to comment.
Source: The Wall Street Journal
