Warner Bros. Discovery (WBD) Series A Stock Surges as Netflix–Paramount Bidding War Escalates: What Investors Need to Know
WBD shares surged 27% in three weeks, closing at $29.53 on December 10 after Netflix agreed to buy its TV and streaming business for $72 billion. Paramount Skydance countered with a hostile $108 billion all-cash bid for the entire company at $30 per share, backed by Gulf sovereign wealth funds. Trading volumes spiked above 100 million shares daily amid the takeover fight. Market value now stands near $73 billion.