Paramount Sky (PSKY.US) intends to acquire Warner Brothers Discovery Company (WBD.US) with a potential offer of $22 to $24 per share.

Sources say that Paramount Skydance (PSKY.US) is preparing to make a takeover offer for Warner Bros Discovery (WBD.US), with a potential offer price range of $22 to $24 per share. However, the report also cautions that this price range is still speculative, and the formal offer may come later than previously expected by the market. Upon hearing this news, the stock price of Warner Bros Discovery rose over 1.2% in early trading on Friday, reaching around $19 per share. According to foreign media reports last week, Paramount Skydance is preparing a large-scale cash acquisition in order to take over Warner Bros Discovery before its planned business split, aiming to create a media giant that encompasses premium TV networks, sports rights, and two major film studios. Warner Bros Discovery recently announced plans to split its global TV network business from its streaming and film production operations. It is reported that around 70% to 80% of the formal offer will be paid in cash, with some of the funds coming from the support of Larry Ellison, co-founder of Oracle Corporation and father of Paramount Skydance's CEO David Ellison. The remaining consideration may be completed through the issuance of shares.