Hollywood merger on the cards: Paramount Skydance looks to buy Warner Bros. Discovery

In what could become the biggest shake-up in Hollywood since Disney’s $71 billion takeover of 21st Century Fox in 2019, Paramount Skydance Corp. is preparing a bid to acquire rival Warner Bros. Discovery Inc., according to a Bloomberg report. The move, spearheaded by filmmaker David Ellison and backed by his billionaire father Larry Ellison, could shrink the roster of legacy U.S. media giants from five to four.