New York: Warner Bros. Discovery has formally declined an acquisition approach from Paramount Skydance, citing that the proposed $20 per share offer fell short of the company’s valuation expectations, Bloomberg News reported. The move underscores Warner Bros.’ intent to continue charting its own strategic path, even as consolidation pressures reshape the media and entertainment landscape.

The unsolicited bid, reportedly initiated in recent weeks, came on the heels of Paramount’s merger with Skydance Media, a deal valued at $8 billion and finalized in August. Under the leadership of David Ellison, Paramount Skydance has been exploring several options to advance its acquisition ambitions. These include potentially raising the offer, appealing directly to Warner Bros. shareholders, or secu

See Full Page