Warner Bros (WBD) Extends Run on 3rd Day Amid Paramount Skydance Acquisition Report

We recently published 10 Stocks with Surprising Gains. Warner Bros. Discovery, Inc. (NASDAQ:WBD) is one of the best performers on Friday.

Warner Bros extended its winning streak to a third consecutive day on Friday, to hit another all-time high, as investors continued to snap up shares following reports of that it was being targeted for acquisition by Paramount Skydance Corp. (NASDAQ:PSKY).

Earlier this week, the Wall Street Journal reported, citing people privy to the matter, that Paramount was preparing a majority cash bid to acquire Warner Bros. Discovery, Inc. (NASDAQ:WBD), including its cable networks and movie studio.

WSJ said a bid has yet to be submitted, and plans could still fall apart.

If successful, the acquisition plan would likely require an antitrust investigation given the potential size and merger with a number of Warner Bros. Discovery, Inc. (NASDAQ:WBD) assets, such as HBO Max, Barbie, and the Harry Potter franchise, with Paramount’s film studio, CBS News, and Paramount+.

The purported bid followed the completion of Paramount and Skydance’s $8.4 billion merger, ending RedBird’s 38-year control of the former.

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Disclosure: None. This article is originally published at Insider Monkey.