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. 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., 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. 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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This article is originally published at Insider Monkey.