CMB Stock News Of The Day 📰🗞️🗞️📈📉

“Warner Bros. Discovery Rises After Reportedly Turning Down $24-a-Share Takeover Bids“ 🚨

Shares of Warner Bros. Discovery (WBD) climbed on Wednesday amid growing speculation over a potential bidding war for the entertainment giant behind HBO, CNN, and Warner Bros. Pictures.

According to CNBC, WBD’s board has rejected three separate offers from Paramount Skydance (PSKY), the latest valuing the company at nearly $24 per share — roughly a 15% premium over Wednesday morning’s price and nearly double where the stock traded before takeover rumors first surfaced in September. The offer, reportedly composed of 80% cash, was turned down on Tuesday, per Reuters.

Despite rejecting the deal, WBD shares rose more than 4% at market open before paring gains to around 1%, as investors reacted to the company’s openness toward potential acquisition talks. The board has confirmed that multiple suitors have expressed interest, fueling further speculation about the company’s future.

While Paramount remains the leading contender, other major players are said to be circling. Reports suggest Comcast (CMCSA), Amazon (AMZN), and even Netflix (NFLX) have explored strategic possibilities.

Netflix co-CEO Ted Sarandos, however, attempted to cool rumors during the streamer’s earnings call Tuesday evening, stating that the company has “no interest in owning legacy media networks.” Still, analysts note that if WBD chooses to divest its streaming and film studio divisions, Netflix could re-enter the conversation as a potential buyer.

The intrigue underscores how rapidly the media landscape is shifting. As legacy studios face pressure from declining cable revenues and ballooning content costs, consolidation appears increasingly inevitable — and Warner Bros. Discovery sits at the center of Hollywood’s next big power play.