Backed by billionaire Larry Ellison’s family, Paramount Skydance’s David Ellison is reportedly preparing a bid for Warner Bros. Discovery.
According to a report published yesterday in The Wall Street Journal, Ellison plans to move ahead of both the planned restructuring of Warner Bros. into two operating divisions — one for cable, and another for studios and streaming — and potential bids by cash-rich companies like Amazon and Apple.
As of yesterday, Warner Bros. Discovery had a market capitalization of $40 billion. The company took on $50 billion in debt as a result of the merger between WarnerMedia (then owned by AT&T) and Discovery in 2022.
With $400 billion in assets, Oracle co-founder Larry Ellison is currently the world’s richest man. He is also a friend of U.S. President Trump; thus, the potential acquisition is expected to face minimal antitrust and regulatory scrutiny.
Leave A Comment