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 news. 3. Ellison family supports Paramount's bid, citing financial strength. 4. WBD is separating cable from studios and streaming operations. 5. WBD may sell a 20% stake in its studio unit.