Paramount Skydance prepares Ellison-backed bid for Warner Bros Discovery: WSJ
1. Paramount Skydance plans a cash bid for Warner Bros Discovery. 2. WBD shares surged nearly 30% following the bid news. 3. The bid includes WBD's entire company, studios, and cable networks. 4. WBD is restructuring by separating cable from studio operations. 5. Earlier, WBD hinted at selling a 20% stake in its studio unit.