Shares of Warner Bros. Discovery shot up as much as 33% Thursday on a report by the Wall Street Journal that Paramount Skydance is prepping a takeover bid of WBD in its entirety.

Warner Bros. Discovery shares have soared to new heights after reports that Paramount Global, the Ellison family is preparing a bid for the corporation.

Per the WSJ report, the Paramount Skydance bid will be for the entirety of Warner Bros. Discovery.