Core Viewpoint - Paramount Skydance has denied reports of collaborating with Middle Eastern sovereign wealth funds on a $71 billion bid for Warner Bros. Discovery, labeling the information as "categorically inaccurate" [1][2]. Group 1: Bid Details - The reported bid would value Warner Bros. Discovery (WBD) at approximately $28.65 per share based on outstanding shares, with significant backing from the Ellison family and RedBird Capital [2]. - Each sovereign wealth fund was said to contribute $7 billion, while Paramount Skydance would provide $50 billion for the bid [3]. - WBD's board previously rejected multiple offers from Paramount, including a bid of up to $24 per share [3][9]. Group 2: Market Reaction - Following the initial report, shares of WBD increased by as much as 6.4% in New York, while Paramount shares rose by up to 3.7% [3]. Group 3: Competitive Landscape - Other companies, including Netflix and Comcast, are also expected to make offers for parts of WBD's movie and streaming business, with Comcast CEO Brian Roberts recently visiting Saudi Arabia to explore a potential bid [7]. - Paramount is currently viewed as the only party interested in acquiring WBD entirely, which could significantly reshape the media industry by merging two major movie studios and influential news networks [8]. Group 4: Company Strategy - WBD CEO David Zaslav is reportedly in favor of splitting the company into two, separating its profitable streaming and film assets from its struggling cable TV networks [11][12].