Paramount Skydance has made a takeover offer to Warner Bros. Discovery (WBD) that included a co-CEO and co-chairman role for WBD CEO David Zaslav. The aim was to retain Zaslav as a key player in the event of a merger and to ensure continuity in the company's management.

The offer was part of a third takeover attempt by Paramount Skydance, which was rejected by WBD. Despite an attractive offer, which included a purchase price of USD 23.50 per share, a cash payment of USD 80 % and an increased cancellation fee of USD 2.1 billion, WBD decided against the takeover.

The rejection indicates that WBD is continuing to examine alternative strategic options, including the possible division of the company into two separate entities in order to increase the company's value. Analysts see this as an indication of possible further takeover attempts or strategic partnerships.

Meanwhile, the Writers Guild of America (WGA) has voiced clear criticism. In a joint statement by the WGA West and WGA East, the union described the planned merger as a "disaster for authors, consumers and competition" and announced that it would work closely with the regulatory authorities to prevent the takeover. The WGA warns that such a merger could have a negative impact on creative professionals and the media market.