Having just swallowed Paramount Global for $8 billion, Skydance Media, led by David Ellison, is currently in the process of biting an even bigger piece of the entertainment industry - with a $70 billion bid for Warner Bros. Discovery.
According to Warner's management, the company is scheduled to be split by April 2026 into two distinct entities: Warner Bros. (the studio and HBO Max) and Discovery Global (the TV networks including CNN, TNT, TBS, and Discovery).
Hmmm...for Skydance an HBO Max coupled with Paramount+ would be a streaming giant, supplemented by two major film studios - Paramount and Warner Bros.
But not so fast. Others may enter in a bidding war, including Netflix, Amazon, Apple, and Sony.
Skydance's $70 billion bid is on the mark. Warner's stock soared 29% on the potential Skydance offer. Its current market value is $40 billion.
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