As Paramount Skydance prepares a bid for Warner Bros. Discovery, CNBC’s David Faber reported Friday an offer could land in the range of $22 to $24 per share.
Faber, citing sources, cautioned that price range was speculative and that an offer could come later than previously expected.
WBD shares gained about 1.5% Friday morning to trade around $19 apiece.
Last week, CNBC reported the newly merged Paramount Skydance was preparing a large cash offer for Warner Bros. Discovery, potentially preempting a split of that company and creating a media giant with a vast portfolio of pay TV networks, sports rights and two major film studios.
Warner Bros. Discovery recently announced plans to separate its global TV networks business from its streaming business and studios.
Faber reported Friday a formal bid could be about 70% to 80% cash, backed in part by Larry Ellison, Oracle co-founder and the father of Paramount Skydance CEO David Ellison. The rest could be paid in stock.
