Warner Bros. Discovery Shares Slide 6% as Wall Street Mulls Paramount Deal

Paramount stock also slips as some analysts see more promise in BET sale

Paramount/Warner Bros. Discovery
Paramount/Warner Bros. Discovery

Share of both Warner Bros. Discovery and Paramount Global slid Thursday as the markets weighed the idea of the two entertainment giants combining.

Warner Bros. Discovery dropped 69 cents or 6%, to $10.97 in morning trading, after closing Wednesday’s session down 5.6%. Paramount Global shares fell 43 cents, or 3%, to $15.07, adding to a 1.5% decline the day before.

The declines come as speculation about a deal continues after Warner Bros. Discovery CEO David Zaslav met with Paramount Global CEO Bob Bakish on Tuesday in New York to discuss the possibilities of bringing the two Hollywood conglomerates together. TheWrap reported that Zaslave also spoke with Shari Redstone, the controlling shareholder of Paramount Global.

Eileen AJ Connelly

Eileen AJ Connelly is a veteran journalist and educator who joined TheWrap in 2022 as a business reporter. She’s covered the insurance industry, the real estate industry and Wall Street for a number of publications and previously worked at The Associated Press, Dow Jones Newswires, the Staten Island Advance. She is also an editor at…

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