Warner Bros. Discovery rejected a takeover offer of around $20 per share from David Ellison's Paramount Skydance in recent weeks as 'too low.'

Oct 21 (Reuters) - Warner Bros Discovery's (WBD.O) board rejected a nearly $60 billion offer from Paramount Skydance (PSKY.O) on Tuesday, a source said, and the company announced it would explore its options for the sale of the company.

Warner Bros Discovery has reportedly rejected Paramount’s initial takeover offer of $20 per share, deeming it too low. Sources told Bloomberg David Ellison's bid would either be increased or Paramount could directly appeal to shareholders.

Warner Bros. Discovery has turned down an initial takeover offer from Paramount Global, deeming it too low. The proposed deal was around $20 per share, which Warner Bros. rejected in recent weeks, according to Bloomberg News .

Warner Bros. Discovery WBD stock jumped 10% after announcing it's reviewing strategic options including a sale following multiple acquisition inquiries.

Fintel reports that on October 16, 2025, Wells Fargo maintained coverage of Warner Bros. Discovery (NasdaqGS:WBD) with a Equal-Weight recommendation. Analyst Price Forecast Suggests 18.03% Downside As of September 30,