Warner Bros. Discovery Stock (WBD) Surges Into a Deal-Driven Crossroads: Netflix Merger, Paramount’s Ellison-Backed Bid, and Wall Street Forecasts (Dec. 23, 2025)
Warner Bros. Discovery, Inc. (NASDAQ: WBD) is trading less like a traditional media stock and more like a live, headline-powered referendum on which future it gets: a Netflix tie-up for its crown-jewel entertainment assets, or a full-company buyout pitched by Paramount Skydance—now reinforced by a massive personal guarantee from Oracle co-founder Larry Ellison. As of Tuesday, Dec. 23, WBD shares were around $28.75. That price matters, because it sits in the gravitational pull of two competing proposals—and it reflects how investors are weighing a higher nominal offer against deal certainty, timing, break fees, and regulatory risk. What’s moving WBD stock