Warren has been an outspoken critic of the Skydance-Paramount merger, and, with fellow senators Bernie Sanders and Ron Wyden, launched an investigation into whether Donald Trump and Skydance Media CEO David Ellison cut a side deal to secure approval from the FCC.

An investor is up about $5 million after taking a bullish options position in Warner Bros Discovery Inc. just hours before a media report that Paramount Skydance Corp. is preparing to buy a majority stake in the movie studio owner.

Gary Wordham has been tapped to serve as the new president of physical production at Warner Bros. Motion Picture Group.

Warner Bros. Discovery CEO David Zaslav recently explained why the company hasn’t made cracking down on HBO Max password sharing a priority thus far.

Shares of both companies are higher Friday in early trading with Paramount up 2% at $17.79 and Warner Bros up 9% at $17.68.

Matt Belloni, Puck founding partner, joins 'Squawk Box' to discuss reports of Paramount Skydance preparing an all-cash takeover bid for Warner Bros. Discovery, impact on the media industry, and more.

Follow me on X. TV Answer Man, is it true that HBO Max is raising their prices? I can’t believe that these companies think we will just pay up every time!! We are not made of money, people!! – Shelley,

Warner Bros. rises after a report says Paramount Skydance was preparing a takeover bid for the entertainment company.