News that the Ellison family is backing Paramount Skydance in a mostly cash offer sent Warner Bros. Discovery shares skyrocketing. Paramount Skydance also made a profit.
On September 12, 2025, Warner Bros. Discovery (WBD) shot up by about 16–17%, following a large rise the day before. The news that Paramount Skydance wants to buy WBD set everything in motion. If the deal goes through, the studios, streaming platforms, and cable networks of both companies may all be part of the same organisation.
This means:
If the deal goes through, it might change the way the media works by bringing together big franchises, streaming services, and cable networks.
There could be some benefits to combining studio content pipelines and sharing content across platforms, but there are also big worries about regulatory oversight and integration.
If the sale conditions aren’t good or the takeover fails, shareholders in both companies could lose money.
Things to Watch Out For:
The official word on the offer, its terms (cash vs. stock, valuation), and so forth.
What shareholders and regulators said.
The value of WBD’s streaming and cable parts in a deal like this.
Comparisons to other recent mergers in the entertainment and media industries.