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At last, Skydance-Paramount chief David Ellison’s long anticipated plan to acquire Warner Bros. Discovery is beginning to take shape. Yes, my partners Kim and Matt have been previewing this move for weeks, but Thursday’s Wall Street Journal scoop that $PSKY was preparing an all-cash bid for all of $WBD marked the official start of the dealmaking frenzy: Executives on both sides go into hiding (sort of), the comms folks “can’t help,” and analysts start asking questions: Is this David Zaslav’s best available offer? Will Brian Roberts start a bidding war? And how would a Sky-Para-Warners-Discovery combination even work?
