Warner Bros. Discovery Stock (WBD) Today: Paramount Adds Larry Ellison’s $40.4B Guarantee, Netflix Locks In Deal Financing — What It Means for Shares (Dec. 22, 2025)
Warner Bros. Discovery, Inc. (NASDAQ: WBD) stock is trading like a referendum on one question: which bidder (if any) ultimately wins one of the biggest media takeovers in history. As of Dec. 22, 2025, WBD shares were last at $27.77, after swinging between $27.07 and $29.31 in a volatile session. The day’s catalyst is straightforward: Paramount Skydance doubled down on its hostile takeover attempt with a major financing upgrade—an “irrevocable personal guarantee” from Oracle co-founder Larry Ellison covering $40.4 billion of equity financing—while Netflix moved to strengthen its own bid by refinancing a large piece of the bridge funding backing