Paramount Skydance is preparing a majority cash offer to acquire Warner Bros. Discovery, owner of CNN, with backing from the Ellison family, according to The Wall Street Journal, citing people familiar with the matter.
The proposed bid would cover the entirety of Warner’s operations, including its film studio and cable television networks. Warner announced plans late last year to reorganize into two divisions, one focused on its traditional cable portfolio and the other on streaming and studio content.
The move comes just weeks after Skydance, led by David Ellison, completed its merger with Paramount, which controls Nickelodeon, MTV, Comedy Central, and Paramount Pictures.
Source: The Wall Street Journal
