Warner Bros. Discovery Shares Climb On News Of $71B Paramount Bid
Warner Bros. Discovery stock jumped 6% to $23.69 on Tuesday with the news of a potential Paramount Skydance $71 billion bid for the company.
In early Wednesday trading, the company maintained that level.
A Variety report suggests the deal is being backed by an investment consortium with the sovereign wealth funds of Saudi Arabia, Qatar and Abu Dhabi.
Paramount Skydance told Variety the report was “categorically inaccurate.” The company did not respond to Television News Daily inquiries by press time.