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Paramount Skydance is making ready a bid to purchase Warner Bros. Discovery, based on The Wall Avenue Journal.
A report revealed Thursday cited sources who instructed the Journal that Paramount Skydance, which went by its personal merger final month and is now being led by David Ellison, is in search of to accumulate the film studio and cable networks run by one of many firm’s prime rivals.
If accomplished, the deal would mark the most important merger of two legacy Hollywood studios beneath one company umbrella.
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Paramount Skydance is reportedly making ready an acquisition of Warner Bros. Discovery in a merger that may rock the leisure and media panorama. (AaronP/Bauer-Griffin/GC Pictures / Getty Pictures)
Warner Bros. Discovery introduced in June that the corporate was splitting the studio from its cable networks. The spinoff firm, Discovery World Networks, included CNN, TBS and TNT. It’s unclear whether or not the company break up could be halted on account of a Paramount Skydance bid.
Paramount’s potential acquisition of Warner Bros. Discovery would put HBO and CNN in the identical company umbrella as CBS, Showtime and several other different cable networks, together with Nickelodeon, MTV, BET and Comedy Central.
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The Journal famous that “a bid hasn’t but been submitted, and the plans may nonetheless disintegrate.”
Warner Bros. Discovery declined to remark. Paramount didn’t instantly reply to a request for remark.
Paramount CEO David Ellison took over the corporate final month after its merger with Skydance Media. (Charly Triballeau/AFP by way of Getty Pictures / Getty Pictures)
Final month, Paramount merged with Skydance in an $8 billion transaction, which was in the end permitted by the FCC after Paramount’s months-long authorized battle with President Donald Trump.
Trump had sued Paramount and CBS Information over election interference within the community’s dealing with of its “60 Minutes” interview with then-Vice President Kamala Harris that aired within the weeks main as much as the November election. Paramount settled Trump’s lawsuit in July.
Paramount settled President Donald Trump’s lawsuit simply weeks earlier than the FCC permitted its merger with Skydance. (Patrick T. Fallon/AFP by way of Getty Pictures / Getty Pictures)
Warner Bros. Discovery is not the one media asset Ellison reportedly has his eyes on. Ellison can also be in search of to purchase The Free Press for $100 million to $200 million and reportedly plans to present its founder, unbiased journalist Bari Weiss, a number one editorial function at CBS Information.
Fox Information’ Brian Flood contributed to this report.
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