Entertainment giants Paramount Skydance, backed by David Ellison and his family, are reportedly preparing a majority cash takeover bid for Warner Bros Discovery.

Entertainment giants Paramount Skydance, backed by David Ellison and his family, are reportedly preparing a majority cash takeover bid for Warner Bros Discovery. The offer would include assets such as the film studio that created Harry Potter movie franchise, cable networks like CNN, HBO Max, and other streaming operations. The share price of WBD jumped nearly 30% on the news.