Paramount Skydance CEO and Chairman David Ellison could buy Warner Bros. Discovery and add major TV and film franchises as well as sports rights to his empire.

The Wall Street Journal reported the recently merged Paramount Skydance was preparing a takeover bid for the entirety of WBD.

Paramount Skydance is preparing a majority cash bid for Warner Bros Discovery that is backed by the Ellison family, the Wall Street Journal reported on Thursday.

Media conglomerate putting together majority cash offer for WBD backed by ultra-rich Ellison family, reports say

Paramount Skydance is preparing a majority cash bid for Warner Bros Discovery that is backed by the Ellison family, the Wall Street Journal reported on Thursday.

Takeover move comes as Warner struggles in the streaming market

Paramount Skydance CEO and Chairman David Ellison could buy Warner Bros. Discovery and add major TV and film franchises as well as sports rights to his empire.

The reported bid would be for a business which includes news network CNN, HBO, and the film studio behind Barbie and Harry Potter.

As CEO and chairman, David Ellison has signed big deals for talent and content as part of his plan to invest in the entertainment company.