Paramount Looking to Purchase Major Movie Studio

In a surprising new report, it seems like DC could be under new management soon, as two major companies are looking to come together.

What do we know about Paramount looking to buy Warner Bros. Discovery?

A new report from The Wall Street Journal reveals that Paramount Skydance is preparing to make a majority cash bid for Warner Bros. The bid is said to be backed by the Ellison family, including Skydance Media owner David Ellison, and his father Larry Ellison, the co-founder of Oracle Corporation and currently the wealthiest person in the world, with an estimated net worth of $393 billion.

The bid will be for the entire company, including cable networks and WB’s movie studio arm. The move comes as a bit of a shock, as Warner Bros.’ market cap of $33 billion is more than double that of Paramount Skydance.

However, Warner Bros. did announce last year that it was planning to restructure itself into two operating divisions, one focusing on legacy cable TV and one focusing on movies. It seems like Paramount is looking to take advantage of this and get involved.

Currently, The Wall Street Journal notes that no official deal has been offered, nor made any real headway yet. Should a deal be agreed to, it will likely face various antitrust issues.

(Source: The Wall Street Journal)

Originally reported by Anthony Nash on SuperHeroHype.

Source: Comingsoon.net