Warner Bros. Discovery (WBD) stock has more than doubled in one year, rising from under $10 to around $28, driven by Paramount’s acquisition offer at $31 per share, valuing the company at approximately $111 billion. This deal was approved by shareholders in April 2026 and then by US and European regulators, but it is currently blocked by US courts following an antitrust lawsuit filed by a coalition of 12 state attorneys general. A trial is scheduled for March 2027 and the deal closing has been pushed back to June 2027 at the latest, with a ticking fee of $0.25 per share per quarter starting in October 2026. If the acquisition goes through, the stock could reach $31, but if blocked by the courts, it risks falling back to around $10. The group retains major assets such as DC, HBO and Harry Potter, and its streaming business has become profitable, but it remains weighed down by high debt and the structural decline of its linear channels.
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