°C
1
Min
Warner Bros. Discovery has decided to cease discussions about a potential merger with Paramount Global, putting an end to the months-long exploration of combining the two media giants, as per sources familiar with the situation.
Warner Bros. Discovery ceases discussions about a potential merger with Paramount Global
Warner Bros. Discovery has decided to cease discussions about a potential merger with Paramount Global, putting an end to the months-long exploration of combining the two media giants, as per sources familiar with the situation.
Despite this, Skydance Media, led by David Ellison, is actively engaged in conducting due diligence for a possible transaction with Paramount Global.
To navigate potential bids for the entire company or specific assets, Paramount Global has formed a special committee, which has enlisted its own financial advisor.
Warner Bros. Discovery experienced a 10% drop in its shares on Friday, following its failure to meet analyst expectations for earnings and revenue.
Over the past year, the company's stock has seen a significant decline of 47% and is currently hovering close to its 52-week low.
Likewise, Paramount Global is also trading near its 52-week low as it prepares to announce its earnings on Wednesday.
More Top Stories
