Pier Silvio Berlusconi, chief executive of European broadcaster MFE-MediaForEurope , said he would prefer Paramount's Skydance rather than Netflix as a buyer for Warner Bros Discovery , arguing the move would boost competition in the streaming industry.
Paramount Skydance Corp (NASDAQ:PSKY) is up nearly 11% to trade at $16.80 today, driven by the entertainment company's upbeat fourth-quarter revenue forecast.
PSKY shares climb after Q3 results and a bold $1.5B content investment aimed at fueling growth across film, TV and streaming platforms.
Paramount Skydance CEO David Ellison has been moving fast to transform the company into something he promises will be leaner and more agile, which could make it unrecognizable.
Warner Bros Discovery has rebuffed Paramount Skydance's initial takeover approach as too low, Bloomberg News reported on Saturday.
David Ellison, backed by his father Larry Ellison, just acquired Paramount. Now he may want to pick up Warner Bros.