• Argus Research sets a price target of $28 for Warner Bros. Discovery (NASDAQ:WBD), indicating a potential upside of 7.36%.
• Paramount's hostile takeover bid for WBD at $30 per share highlights aggressive acquisition strategies in the media and entertainment industry.
• WBD's recent agreement with Netflix for $72 billion underscores the competitive landscape and interest in WBD's assets from major industry players.

Warner Bros. Discovery (NASDAQ:WBD) is a major player in the media and entertainment industry, known for its vast portfolio of content and networks. On December 8, 2025, Argus Research set a price target of $28 for WBD, suggesting a potential upside of 7.36% from its current trading price of $26.08. This price target reflects confidence in WBD's market position and future prospects.

Paramount's recent hostile takeover bid for WBD adds a layer of complexity to the stock's outlook. Paramount, through its Skydance division, is offering WBD shareholders an all-cash deal of $30 per share. This offer, backed by significant financial commitments, underscores Paramount's aggressive strategy to acquire WBD and reshape the media landscape. The bid is supported by equity financing from the Ellison family and RedBird Capital, along with $54 billion in debt commitments from major financial institutions.

The backdrop to this bid is WBD's recent agreement with Netflix, which secured a deal to purchase WBD's studio and streaming assets for $72 billion. This agreement highlights the competitive environment in the media industry, with major players like Netflix and Comcast also showing interest in WBD's assets. Paramount's interest extends beyond just the studio and streaming assets, aiming to acquire the entire company, including its TV networks such as CNN and TNT Sports.

WBD's stock has shown volatility, with a recent price increase of 6.28%, reaching $26.08. The stock has fluctuated between $24.98 and $26.10 today, with the latter marking its highest price over the past year. Despite this volatility, WBD maintains a strong market capitalization of approximately $64.62 billion, reflecting its significant presence in the industry. The trading volume today is notably high at 198.87 million shares, indicating active investor interest amidst the takeover bid and recent developments.