According to @garyblack00, citing the New York Post, PSKY is likely to raise its offer for WBD by 10% to $33 per share, creating a higher reference price for merger-arbitrage trading levels (New York Post). The New York Post report also notes WBD would owe a $2.8 billion breakup fee to NFLX if it ends their merger talks and references prior terms of a $30 per share cash bid from PSKY and a $27.75 per share cash-and-stock proposal from NFLX (New York Post; @garyblack00).

According to @garyblack00, Paramount has launched a hostile $30 per share all-cash offer for all of WBD, which he says would face fewer regulatory issues than NFLX’s $27.75 per share bid comprised of $23.25 cash and $4.50 in NFLX stock, with the Ellison-backed PSKY proposal offering $18 billion more in cash, likely closing faster, and covering all of WBD including the global networks being spun off while the NFLX offer imputes $3 per share to that spinoff; source: Gary Black on X, Paramount investor relations ir.paramount.com/node/72176/pdf. He adds that this competitive pressure could push NFLX to raise its offer for WBD, and the source cites no direct cryptocurrency market impact; source: Gary Black on X.

According to @StockMKTNewz citing CNBC, Paramount Skydance (PSKY) has launched a hostile, direct-to-shareholders bid for WBD with an all-cash $30-per-share offer. According to @StockMKTNewz, this is the same proposal WBD rejected last week, per CNBC. According to @StockMKTNewz, the move follows Netflix winning the prior bidding war, as reported by CNBC. The source did not provide additional terms, timing, or regulatory details, and did not cite any direct crypto market implications, per @StockMKTNewz citing CNBC.

According to @garyblack00, CNBC reported on Dec 5, 2025 that Paramount Skydance (PSKY) is evaluating a higher all-cash offer for Warner Bros. Discovery (WBD) after its prior $30 per-share bid, which included a $5 billion breakup fee to address regulatory risk (source: CNBC via @garyblack00 on X). According to CNBC, Paramount alleges Warner Bros. did not properly consider the $30 cash offer and is weighing a direct appeal to WBD shareholders with an improved bid potentially above $30 (source: CNBC). According to CNBC, WBD shares rose about 3% to $25.37 after the report, implying roughly 18% upside to $30 and about 26% to a hypothetical $32 based on CNBC’s cited price (source: CNBC). According to @garyblack00, if PSKY lifts the bid to $32 all cash, both WBD (cited at $25.75) and Netflix (NFLX, cited at $99.70) could move higher as investors discount lower odds of NFLX winning (source: @garyblack00 on X). According to CNBC, the potential move to go directly to shareholders represents a near-term corporate action catalyst that merger-arbitrage desks can trade against the reported price levels and offer terms (source: CNBC). According to CNBC, the report contains no crypto-related disclosures for PSKY, WBD, or NFLX, indicating no direct cryptocurrency linkage in this event setup (source: CNBC).

According to @StockMKTNewz, citing The Wall Street Journal, Paramount Skydance (PSKY) won the European rights to soccer’s Champions League in an $11.5 billion auction, providing a material headline for PSKY’s equity narrative and potential valuation discussions, source: @StockMKTNewz; The Wall Street Journal. According to @StockMKTNewz, the post does not disclose contract duration, exact package scope, or payment structure, limiting immediate revenue modeling and cash flow timing analysis for traders, source: @StockMKTNewz. According to @StockMKTNewz, the report contains no mention of cryptocurrencies or digital-asset tie-ins, indicating no direct crypto market impact flagged by the source at this time, source: @StockMKTNewz.