Paramount UPS Warner Bros. bid with Trump son
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Even as Paramount and Warner Bros saw shares soar, the broader market declined as investors awaited the Fed's rate-setting meeting on Wednesday.
The offer to shareholders comes days after Warner Bros. agreed to sell its streaming and studio business to Netflix.
David Ellison has launched a hostile takeover bid for Warner Discovery, taking his case directly to shareholders after Netflix clinched a deal.
Netflix has already spent $2.3 million lobbying Washington through the first three quarters of 2025, up from an annual record of $1.9 million last year, disclosures show. The streamer’s roster of outside lobbyists includes Monument Advocacy, Mehlman Consulting and Miller & Chevalier.
Most stocks were falling on Wall Street, but Warner Bros. Discovery jumped to one of the market’s biggest gains.
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