Here's what Paramount Skydance would be buying in a deal for Warner Bros. Discovery

Core Viewpoint - David Ellison, CEO and chairman of Paramount Skydance, is preparing a takeout offer for Warner Bros. Discovery, indicating a strategic move to expand his media empire [1][3]. Group 1: Company Developments - Warner Bros. Discovery has not yet received an official offer, but its shares surged nearly 30% on Thursday, marking the best trading day in its history [2]. - The potential acquisition of Warner Bros. Discovery would enhance Ellison's portfolio, which already includes various franchise acquisitions and sports media rights [3]. Group 2: Market Implications - The acquisition could highlight the undervalued assets of Warner Bros. Discovery, which have been impacted by its balance sheet issues, according to analyst Robert Fishman [4].