Morning Business Report: Warner Bros. Discovery rejects Paramount Skydance bid as markets close mixed

Warner Bros. Discovery is expected to once again reject a takeover bid from Paramount Skydance, according to a new report from Bloomberg.

(LILAMAX)- Warner Bros. Discovery is expected to once again reject a takeover bid from Paramount Skydance, according to a new report from Bloomberg.

Sources say the Warner Bros. board remains unconvinced by the offer, which has not increased since it was first presented and was previously deemed inferior to a competing proposal from Netflix. Executives are reportedly concerned about Paramount’s ability to improve the financial terms, manage its debt load, and guarantee coverage for a potential breakup fee Warner Bros. would owe Netflix if a deal were reached.

Meanwhile, new Federal Reserve meeting minutes reveal deep divisions among policymakers over the future of interest rates. Some members support rate cuts to ease borrowing costs for consumers, while others warn that easing too soon could reignite inflation pressures.

Markets closed lower Tuesday, marking another losing session for major indexes. Despite the pullback, stocks remain on track for gains both for the month and the year. U.S. markets are open for a full trading day today and will be closed Wednesday in observance of the New Year’s Day holiday.

The entertainment and media industry is also facing continued turbulence. More than 17,000 jobs were cut across the sector in 2025, an 18 percent increase from the previous year. Newsrooms, studios, and streaming platforms have been hit particularly hard as companies grapple with consolidation, cost-cutting, and the expanding use of artificial intelligence.

Meanwhile, champagne sales are slipping worldwide. Global prices are down roughly 12 percent as consumers scale back spending, opting for more affordable alternatives like prosecco and cava. Industry analysts say inventories are building as demand softens.