Warner Bros. Discovery Stock News

The bidding war for WBD pits Paramount Skydancee – the burgeoning media company run by independent movie producer David Ellison and backed by his father, billionaire Trump donor and Oracle founder Larry Ellison – against Brian Roberts' media behemoth Comcast and streaming giant Netflix.

Warner Bros. Discovery (NASDAQ:WBD), the influential entity behind HBO, Max, Warner Bros.

Warner Bros Discovery Inc (NASDAQ:WBD, XETRA:J5A) reported mixed financial results for the third quarter, sending its shares almost 6% lower in early trade on Thursday. The media giant posted total revenues of $9 billion for the quarter, a 6% decline from the same period last year and below Wall Street expectations of roughly $9.73 billion to $9.81 billion.

Netflix (NFLX) signals willingness to honor Warner Bros. (WBD) theatrical releases if it acquires the studio, amid ongoing bidding interest.

Netflix has informed Warner Bros. Discovery management that it would continue releasing the studio's films in theaters if its acquisition of the company succeeds, Bloomberg News reported on Wednesday.

Anyone interested in buying Warner Bros. Discovery has until Thursday to submit a bid.

Paramount is to submit its bid of around $23.50 a share for Warner Bros. Discovery this week.

The victor will walk away with the rights to beloved characters including Harry Potter, Superman, and Tony Soprano.