Warner Shares Rise As Investors Await Paramount's Next Move
Deadline • • general
Key Points:
- Warner Bros. Discovery (WBD) shares rose over 1% to above $28 amid a broader market downturn caused by tariff and trade uncertainties, marking a significant gain from under $12 last fall.
- The stock rally follows a competitive takeover battle triggered by Paramount's unsolicited bids, leading to Warner's December deal with Netflix, while Paramount continues a hostile tender offer to acquire WBD.
- Paramount last offered $30 per share in cash for WBD, aiming to outbid Netflix's $27.75 cash offer plus stock in a new Discovery Global spinoff; analysts expect Paramount to raise its bid to at least $32-$34 per share.
- Netflix has maintained it will not overpay for WBD, and the bidding war
