Warner Bros. Discovery, Inc. (NASDAQ:WBD) saw a surge on Friday amidst reports of a potential acquisition by Paramount Skydance Corp. (NASDAQ:PSKY), extending its winning streak to a third day and hitting an all-time high.

Paramount is reportedly preparing a majority cash bid to acquire Warner Bros. Discovery, Inc. (NASDAQ:WBD), including key assets like HBO Max, Barbie, and the Harry Potter franchise, if successful, an antitrust investigation may be necessary due to the size of the merger.

Following Paramount and Skydance’s $8.4 billion merger, ending RedBird’s control, Wall Street Journal reported that the bid for Warner Bros. Discovery, Inc. (NASDAQ:WBD) has yet to be submitted, and plans could still fall through.

Read more at Yahoo Finance: Warner Bros (WBD) Extends Run on 3rd Day Amid Paramount Skydance Acquisition Report