On Saturday, 2025‑10‑12, Warner Bros. Discovery announced it had rebuffed an initial takeover approach from Paramount Skydance, citing the offer as too low. Bloomberg News reported the rebuff, confirming the decision was made today. The move signals that WBD is not accepting the current bid.
The rebuff comes amid ongoing speculation about a potential acquisition of WBD by Paramount Skydance, which had previously announced a majority cash bid earlier in September. By rejecting the offer, WBD maintains its independence and continues its planned split into two publicly traded companies. The decision may influence future M&A activity and investor expectations.
For investors, the rebuff indicates that WBD is not currently pursuing a sale at the offered price, which could affect the company’s valuation and strategic options. The company remains focused on its transformation strategy, including the Max streaming platform and studio revitalization. The rejection of the takeover approach may also signal that WBD’s management believes the offer undervalues the company.
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