Warner Bros. Discovery shares spike as CEO shops – Business News
David Zaslav needs a bidding struggle for his media conglomerate — and buyers say “bring it on!”
Shares of Warner Bros. Discovery spiked 17% to $18.87 on Friday after The Post reported that CEO Zaslav isn’t ready round for Paramount Skydance to formally affirm a reported monster bid for the proprietor of Warner Bros. studios, HBO, TNT and CNN.
Paramount Skydance CEO David Ellison, as reported, is prepping an all-cash offer of $50 billion or more.
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Last week, nevertheless, Zaslav met with bankers at Goldman Sachs to presumably store WBD to different media and tech outfits — together with Amazon, Apple and Netflix.
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His aim, The Post has discovered, is to propel the stock price to $40 a share. If Zaslav can’t get what he’s asking from any suitors, a source stated he plans to make use of his own surging share price to buy more content material.
Reps for WBD and Skydance had no remark.
Interest in WBD and its properties has been growing, a consequence of relaxed antitrust enforcement below the Trump administration.
As The Post reported solely Thursday, media maven Jay Penske, who owns amongst different properties Variety, The Hollywood Reporter, Rolling Stone and a stake in Vox Media, is claimed to have expressed curiosity in ratings-challenged CNN.
