Paramount Skydance (NASDAQ:PSKY) shares are trading higher Friday after a report suggesting that the company is preparing an Ellison-backed bid for Warner Bros. Discovery, Inc. (NASDAQ:WBD).
What To Know: According to the Wall Street Journal, Paramount Skydance is preparing a majority cash bid for Warner Bros. Discovery with the Ellison family backing the deal. The bid would include its cable networks and movie studio.
Warner Bros. Discovery said late last year it planned to restructure into two operating divisions, one focused on legacy cable-television and the other on streaming and studios.
