Warner Bros. Discovery Stock (WBD) Weekend Update: Deal-Arbitrage Tension Builds Ahead of Monday’s Open
NEW YORK, Dec. 27, 2025, 11:09 a.m. ET — Market Closed Warner Bros. Discovery, Inc. (NASDAQ: WBD) — the company behind HBO, Warner Bros. studios and a portfolio of cable networks — heads into the final full week of 2025 with its stock trading less like a traditional media name and more like a live referendum on a high-stakes takeover fight. With U.S. markets closed for the weekend, investors are left to digest a familiar but still fast-moving setup: a signed Netflix agreement that would reshape WBD’s crown-jewel assets, and a rival Paramount Skydance all-cash tender offer that has been