Warner Bros. Discovery stock jumps 30% on Paramount takeover talk

Core Insights - Warner Bros. Discovery shares increased over 30% following reports of a potential takeover bid from Paramount Skydance, which would include the HBO Max catalog rights [1] - Paramount Skydance is financially backed by the Ellison family, who experienced a significant increase in wealth due to a rise in Oracle stock, marking the largest one-day jump in individual net worth recorded by Bloomberg [2] - Warner Bros. Discovery's stock had been relatively flat year-to-date before the surge, with a 60% increase for the year but still down 25% over the past five years [3] Company Developments - Warner Bros. Discovery announced plans to split into two companies, focusing on global TV networks and streaming/studios [2] - CEO David Zaslav stated that HBO Max is projected to reach 150 million homes by next year and emphasized that the streaming service is undervalued [3] - Zaslav also mentioned the company's confidence in the quality of its productions, suggesting that this could allow for price increases as they believe they are currently underpriced [4]