Paramount‘s beleaguered stock jumped nearly 11% Tuesday after news of deep-pocketed Middle East backers joining its Warner Bros. Discovery takeover.
The shares, which had fallen 20% in 2026 heading into Tuesday’s trading, finished at $10.90 on more than three times their normal trading volume.
Several regulatory agencies have approved Paramount’s pending $110 billion deal for WBD. The companies say it will close by the end of September. While Larry Ellison, co-founder of Oracle and one of the world’s richest people, is a principal backer of the Paramount-WBD deal, the market appeared to be relieved that he and Paramount are spreading some risk around along with the equity. Another plus for investors: the company’s issuing of free warrants entitling certain stockholders to acquire stock at the syndication price. The warrants will eventually be listed on the Nasdaq, trading separately from Paramount shares.
Saudi Arabia’s Public Investment Fund, Qatar
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