WSJ: Paramount plans to acquire Warner Bros

Paramount Skydance is preparing to buy Warner Bros. Discovery — sending the company’s shares soaring by 30%.

According to The Wall Street Journal, Paramount Skydance intends to acquire the entirety of Warner Bros. Discovery, despite the latter’s plan to split into two businesses in 2026. The deal is expected to be cash-based and backed by billionaire Larry Ellison’s family, though the purchase price has not yet been disclosed.

The news sparked a strong market reaction: Warner Bros. Discovery shares jumped more than 30%. Both companies declined to comment when reached by Variety.

Paramount Skydance is owned by David Ellison, the son of Oracle founder Larry Ellison, whose fortune is valued at $370 billion. He currently ranks second on the Forbes list, behind only Elon Musk.