Warner Bros. Discovery (WBD) Rejects Three Paramount Skydance Takeover Offers

Warner Bros. Discovery has turned down three takeover offers from Paramount Skydance, including the most recent offer of just under $24 per share, composed of 80% cash, sources told CNBC. The company has also received significant buyout interest from other parties, including Netflix and Comcast.

WBD confirmed receiving "unsolicited interest" from multiple bidders and announced it would expand its strategic review to explore all options. The company remains focused on its previously disclosed plan to separate into two businesses: one for streaming and studios, and another for global networks.

CEO David Zaslav stated, "The significant value of our portfolio is receiving increased recognition," highlighting the growing market interest in WBD’s assets.

Shares of WBD rose nearly 11% on Tuesday, continuing their upward trend with a 2% increase in early Wednesday trading.

While WBD faces ongoing acquisition offers, the company is committed to evaluating all options to maximize its portfolio’s value, while pushing ahead with its restructuring plans.