Paramount Skydance (PSKY) CEO David Ellison could submit an official merger bid for Warner Bros. Discovery (WBD) in the coming days, the New York Post's On The Money reported Wednesday, citing people familiar with the matter.
The process is fluid, and there is a possibility that the bid could be delayed or not submitted at all, sources told the media outlet.
Ellison is engaging with Apollo Global Management (APO) to finance any bid, according to the report.
Paramount Skydance did not immediately respond to a request for comment from MT Newswires.
Warner Bros. Discovery shares rose 2.7% in recent trading.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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