Natalie ShermanBusiness reporter
Getty ImagesShares in Warner Brothers Discovery and Paramount Skydance have surged following reports that Paramount Skydance is preparing an offer to buy the rival studio.
The reported bid would be for the entire Warner Brothers Discovery business, which includes news network CNN, HBO, and the film studio behind Barbie and Harry Potter.
The deal would mark further consolidation in the US media industry, which has been dramatically reshaped by the rise of streaming, and comes as media firms face scrutiny from President Donald Trump’s administration.
Warner Brothers Discovery declined to comment. Paramount Skydance did not respond to a request for comment.
The potential offer from Paramount Skydance was first reported in the Wall Street Journal.
The firm is led by David Ellison, whose father, Oracle co-founder Larry Ellison, briefly became the world’s richest man this week.
It comes just weeks after the…
