New York Post·2025-10-17 13:30Core Insights - Paramount Skydance CEO David Ellison is preparing a takeover offer for Warner Bros. Discovery (WBD), with potential competition from Comcast driving urgency [1][2] - A bidding war could elevate WBD's valuation from approximately $50 billion to over $60 billion, aligning with CEO David Zaslav's expectations [2] - Comcast, led by Brian Roberts, poses a significant threat to Ellison's bid, especially given its strong cash position of around $10 billion compared to Paramount Skydance's nearly $2 billion [5] Bidding Dynamics - Ellison's potential bid could be disclosed imminently, with analysts predicting an offer above $20 per share, which may be hostile and public [10][11] - Zaslav believes WBD's studio and streaming business could be valued at as much as $30 per share once separated from cable assets, with a breakup scheduled for May [12] - The independent directors of WBD may consider Ellison's offer against the unaffected price and could form a Special Committee to evaluate it [12] Competitive Landscape - The competitive landscape includes not only Comcast but also major players like Netflix, Amazon, and Apple, which could enter the bidding once WBD's assets are split [12][13] - Ellison is expected to leverage support from private equity firms like Apollo to strengthen his bid while avoiding overpayment [13] - The involvement of political figures, particularly Donald Trump, may influence the regulatory scrutiny of any potential deal, especially concerning Comcast's media properties [6][7]