Warner Bros. Discovery(US:WBD) New York Post·2025-10-13 17:20Core Message - Warner Bros. Discovery CEO David Zaslav is urging Paramount Skydance chief David Ellison to make a serious offer for the company, suggesting a price upwards of $30 per share instead of the lowball bid of around $20 he has floated [1][8]. Group 1: Offer Dynamics - Ellison, who recently acquired Paramount for $8 billion, is expected to make an official offer soon, moving away from previous soft expressions of interest [2]. - Ellison is reportedly trying to pressure Zaslav by claiming his bid is the only one available, arguing that without it, WBD's stock will decline significantly [4]. - Zaslav believes he can compel Ellison to pay a premium over WBD's current stock price, which is around $18 [5]. Group 2: Strategic Considerations - Zaslav is planning to split WBD into two units, with the streaming and studio business valued at up to $30 by analysts, which could influence the negotiations [6]. - The WBD board supports Zaslav's strategy to play the long game, anticipating that other major media companies like Comcast, Netflix, Amazon, and Apple may show interest post-split [7][12]. - Zaslav has indicated that every company is for sale at the right price, but he needs assurance that Ellison can finance a significant deal, potentially requiring up to $60 billion [12]. Group 3: Financial Implications - Ellison may need to leverage his father's wealth, which is approaching $400 billion, to finance the deal, raising questions about whether Larry Ellison would sell Oracle stock to fund it [13]. - Analysts suggest that without substantial backing, Ellison's current position is weak, as he would be attempting to acquire a much larger entity with limited resources [16].