Warner Bros. Discovery’s Wall Street rally was triggered by Ellison: After his Skydance Media had swallowed up Paramount Global, he aggressively set his sights on buying WBD next — backed with billions from his father, Larry Ellison — and triggered an M&A battle that caused big swings in the stocks of WBD, Paramount Skydance and Netflix. The goal of the Versant transaction is to unshackle the NBC broadcast and Peacock streaming businesses from the declining cable TV networks and convince investors the newly streamlined Comcast is worth more. Discovery, Zaslav stands to cash in from a sale: He’s set to become a billionaire given his WBD stock holdings regardless of whether Netflix completes the deal or Paramount Skydance swoops in to poach the whole company.
Author: Todd Spangler
Published at: 2025-12-30 23:13:12
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