buyout

Published on
12/09/2025 – 9:49 GMT+2

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Shares in Warner Bros Discovery surged nearly 30% in New York on Thursday after the Wall Street Journal reported that Paramount Skydance was preparing to buy its rival.

Paramount Skydance’s stock also rose around 16% in daily trading.

The majority cash bid is reportedly for the entire company, including its movie studio and cable networks like HBO and CNN. Warner said late last year that it planned to split into two operating divisions: one focused on cable TV and the other on streaming and studios.

Paramount’s offer is allegedly backed by Oracle’s Larry Ellison, who briefly became the world’s richest person this week, overtaking tech tycoon Elon Musk. The billionaire’s son, David Ellison, runs Paramount Skydance.

The WSJ noted that a bid hasn’t yet been submitted and that plans could still fall apart.

Paramount Skydance’s market value was $19 billion (€16bn) as of Thursday’s close, while that of Warner Bros Discovery was roughly $40bn (€34bn).

Paramount and Warner Bros did not immediately respond to requests for comment regarding reports of the acquisition.

If approved, a merger between the two firms would mark the biggest consolidation in Hollywood since Walt Disney bought the entertainment division of Fox Corp. in 2019.

Scale would allow the new company to compete with the likes of streaming giants Netflix and Disney as the industry is redefined by changes in traditional viewing habits.

Paramount Skydance merger

The report comes just weeks after the finalisation of a $8bn (€7bn) merger between movie giant Paramount and independent film studio Skydance Media.

This acquisition became particularly controversial after it was linked to a legal dispute over a CBS News interview.

In July, Paramount paid $16 million (€14mn) to settle a defamation case against US President Donald Trump. The Republican leader claimed that Paramount’s CBS News in November edited a “60 Minutes” news programme with then-vice president Kamala Harris in a way that was deliberately deceptive.

Paramount said in a statement that the settlement with Trump was “completely separate from, and unrelated to, the Skydance transaction and the FCC approval process”. 

Even so, critics of the settlement lambasted it as a veiled bribe to appease Trump and allow the merger to go ahead.

Despite the payout, Paramount’s settlement did not include a statement of apology or regret.

Skydance did, however, declare it would end Paramount’s diversity programmes and appoint an ombudsman to review complaints of bias. Paramount also cancelled the left-leaning Late Show with Stephen Colbert ahead of the merger approval.

Critics viewed the moves as further attempts to win over President Trump, although Paramount denied that the Colbert show was cancelled for political motives.

July 4 (UPI) — The United Parcel Service has announced that it is offering buyouts to full-time drivers as part of its execution of “the largest network reconfiguration” in the company’s history.

The plan was announced in a statement Tuesday, explaining it is “the first time ever” that they have offered full-time drivers the ability to volunteer to “receive a generous financial package if they choose to leave UPS.”

Specifics of the financial package were not revealed, but UPS said it will be in addition to any earned retirement benefits, including pension and healthcare.

“Each driver would have the ability to decide if this voluntary program is beneficial to their family and the plans they have for their future,” UPS said.

The company added the drivers’ union has been informed of the plan and that UPS remains committed to their 2023 agreement.

The union, the International Brotherhood of Teamsters, issued a statement rejecting the buyout plan as violating their commitment not only to protect 340,000 delivery workers but to create 22,500 more jobs.

“UPS is trying to weasel its way out of creating good union jobs here in America by dangling insulting buyouts in front of Teamsters drivers,” the teamsters general president, Sean O’Brien said in a statement.

“It’s an illegal violation of our national contract.”

In the five-year contract, ratified in August 2023, UPS guaranteed to fill at a minimum 22,500 permanent full-time jobs. The announcement of the buyout also comes as the union says UPS is failing to provide at least 28,000 air-conditioned vehicles to drivers by 2028.

“Our members cannot be bought off and we will not allow them to be sold out,” O’Brien said.

“The Teamsters are prepared to fight UPS on every front with every available resource to shut down this illegal buyout program.”

The announcement comes after UPS said in late April that they expected to reduce their workforce by about 20,000 positions during this year.