Paramount Skydance Plans All-Cash Warner Bros. Discovery Bid

David Ellison's Paramount Skydance Corp., newly formed after an $8 billion merger with Paramount, is preparing a mostly cash offer to acquire Warner Bros. Discovery in its entirety, backed by the Ellison family fortune including Oracle co-founder Larry Ellison. The proposed acquisition would combine vast media assets including HBO, CNN, Warner Bros. film studios, and streaming services, potentially halting Warner Bros. Discovery's planned split into two companies. The bid has caused Warner Bros. Discovery’s shares to surge significantly, reflecting investor optimism about the consolidation amid a fragmented media landscape challenged by streaming competition and declining traditional TV revenues. The Ellisons' strategic move aims to create a powerful media conglomerate, with potential shifts in editorial direction at CNN under Ellison’s leadership. Alongside the acquisition plans, Paramount Skydance announced job cuts to save $2 billion, and Oracle is reportedly preparing a substantial enterprise contract with the company. Regulatory challenges remain uncertain, but this potential deal signals a major reshaping of the entertainment and news industries.