Warner Bros. Discovery is smack in the eye of the latest media M&A maelstrom — and staffers are bracing for the possibility that they’ll get a new corporate overlord in the near future.

The leading takeover candidate is aspiring Hollywood empire-builder David Ellison , son of one of the world’s wealthiest people. Ellison, fresh off orchestrating Skydance’s merger with Paramount, is now aggressively chasing a much bigger quarry in Warner Bros. Discovery.

This week, WBD chief David Zaslav and the company’s board publicly announced that they’re doing due diligence on in-bound acquisition interest from “multiple parties.” The company didn’t name Paramount or any others that have made M&A overtures. But Ellison has been driving especially hard to win over WBD and Zaslav with a series o

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