Warner Bros. Discovery Stock News

Analysts at Jefferies remain positive on Netflix Inc (NASDAQ:NFLX, XETRA:NFC) amid reports of growing likelihood for a Warner Bros Discovery Inc (NASDAQ:WBD, XETRA:J5A) acquisition. The optimism comes as WBD's board reportedly plans to ask shareholders to reject a $30-per-share takeover bid from Paramount Skydance (PSKY).

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Paramount is standing by its current proposal to acquire Warner Bros. Discovery, warning shareholders that embracing Netflix's offer would saddle them with a “heavily indebted, sub-scale linear business.” The David Ellison-led media company conveyed its position hours after WBD's board of directors issued a firm recommendation against the Paramount option.

Kushner's firm entered the fray and pitched in $200 million to Paramount's offer — a minor contribution, according to Bloomberg.

Wall Street banks stand to gain $225 million from Warner Bros. Discovery's sale process.

Warner Bros. Discovery's (WBD) board of directors has rejected the $108 billion hostile takeover bid from David Ellison's Paramount Skydance, calling the offer “illusory,” and saying that Paramount had misled shareholders about its financing.

Paramount Skydance's David Ellison texted Warner Bros. Discovery's CEO as the bidding war heated up.

Warner Bros. Discovery board rejects Paramount's $30 per share takeover bid, calling it inadequate compared to Netflix's $72 billion merger deal.