Paramount Skydance is planning to bid on Warner Bros. Discovery, the parent company of CNN, just weeks after Skydance acquired Paramount and subsidiary CBS.

The newly formed conglomerate is run by David Ellison, the son of Larry Ellison, who on Wednesday temporarily surpassed Elon Musk as the world’s richest person.

According to The Wall Street Journal, the younger Ellison’s company is preparing a majority cash bid for all of Warner Bros. Discovery, which also includes HBO, cable stations TBS and TNT, and DC Entertainment. Warner Bros. Discovery’s market capitalization, the outlet states, approaches $33 billion.

“Ellison has been looking at Warner Bros for a while,” an individual close to Paramount executives told Deadline. “Nothing new there, he’s just taking a closer look, assessing t

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