Paramount Skydance prepares blockbuster bid for Warner Bros. Discovery

Paramount is preparing to make a bid for Warner Bros.

Paramount is preparing to make a bid for Warner Bros. Discovery, a source familiar with the matter told NBC News.

The news was previously reported by The Wall Street Journal and CNBC.

High-profile members of both Paramount and Warner Bros. Discovery told NBC News that there have been discussions about a possible bid.

Representatives for Paramount Skydance and Warner Bros. Discovery did not immediately respond to requests for comment on Thursday. Warner Bros. Discovery stock surged about 29% while Paramount's jumped 15%.

The offer would come about two months after the Trump administration approved Paramount’s takeover by Skydance, which is run by David Ellison, son of Oracle co-founder and Trump ally Larry Ellison.