Paramount Global’s Paramount Skydance unit is keeping its $30 per share offer for Warner Bros. Discovery on the table and will not raise the bid, even after WBD’s board officially rejected the proposal. Following the rejection, Paramount issued a statement affirming its commitment to acquiring Warner Bros. Discovery, signaling that the bid strategy remains unchanged for now. This development underscores the ongoing push for consolidation in the entertainment sector as media giants weigh mergers to boost scale, unlock content libraries, and strengthen streaming capabilities. Analysts will watch how the stalemate affects investor sentiment and whether Paramount Skydance launches an alternative approach, such as concessions, structuring tweaks, or sustained public campaigning, while Warner Bros. Discovery contemplates its next moves. The rejection heightens the focus on the strategic logic of a potential combination between Paramount’s assets and WBD’s vast content universe. For investors, the key takeaway is that the $30 offer remains the baseline, with the path forward likely to hinge on shifts in negotiation posture, board dynamics, and the broader pace of consolidation in the media landscape.