Warner Bros Discovery’s board rejected a nearly $60 billion offer from Paramount Skydance today, a source said, and the company announced it would explore its options for the sale of the company.

Reuters exclusively reported that the company’s board rejected a mostly cash offer of nearly $24 a share for the company, whose assets include the Warner Bros film and television studios, its CNN and other cable television networks and its HBO Max streaming service, according to a source familiar with the matter.

Shares of the company closed 11% higher today.

Warner Bros and Paramount declined to comment.

Comcast is likely to examine the media firm’s assets, another source told Reuters today. Netflix is also among the interested parties, CNBC reported, following earlier reports that Paramount

See Full Page