warner bros discovery rejected three paramount skydance CNBC’s David Faber reported Wednesday, citing people familiar with the matter, that the company is attracting widespread acquisition interest and has made an offer.
Faber said Paramount’s previous offer was just under $24 a share and was 80% cash, and previously reported that bids could range from $22 to $24 a share.
Reuters reported on Tuesday that WBD rejected a bid of nearly $24 per share.
WBD announced on Tuesday that it had received “unsolicited interest” from multiple parties and would expand its strategic review process to review all bids. At the same time, the company is moving forward with its previously announced plans to separate into two entities: its streaming and studio business and its global network business.
Faber reported on Tuesday. Netflix and comcast They were also among the stakeholders.
“It’s not surprising that the significant value of our portfolio is being increasingly valued by other companies in the market,” Warner Bros. Discovery CEO David Zaslav said in a statement Tuesday. “Following interest from multiple parties, we have begun a comprehensive review of strategic alternatives to identify the best path forward to maximize the value of our assets,” he said.
WBD stock rose about 11% on Tuesday. It rose another 1% in Wednesday morning trading.
Disclosure: Comcast is the parent company of NBCUniversal, which owns CNBC. With Comcast’s planned Versant spinoff, Versant will become CNBC’s new parent company.
