Paramount prepares a bid for Warner Bros. Discovery – report

Earlier today, I was writing that media mergers were one of the Trump-trade themes following the election. It’s been slow to unfold but it suddenly got much better as the WSJ is reporting that Larry Ellison is backing a Paramount bid to buy Warner Bros. Discovery.

The bid is said to be primarily cash.

Shares of WBD are up 17% on the day in a spike after the report.

This article was written by Adam Button at investinglive.com.