Warner Bros. Discovery spikes 37% on report that Paramount Skydance is preparing a buyout bid

Core Viewpoint - A significant potential acquisition of Warner Bros. Discovery by Paramount Skydance is causing a substantial increase in Warner Bros. Discovery's stock price, which surged by as much as 37% on the news [1][3]. Group 1: Stock Performance - Warner Bros. Discovery shares experienced a rally of up to 37% following reports of a potential cash bid from Paramount Skydance [1][3]. - Year-to-date, Warner Bros. Discovery shares have risen more than 60% at intraday highs [1]. - Paramount Skydance shares also saw an increase of approximately 10% in response to the news [1][3]. Group 2: Acquisition Details - The potential takeover would encompass the entire Warner Bros. Discovery business, including its cable TV networks and movie studios [2]. - This acquisition follows a recent merger between Paramount and Skydance earlier in the summer [2]. - Paramount Skydance is led by David Ellison, the son of billionaire Larry Ellison, who recently became the world's richest person [2].