NEW YORK, December 29, 2025, 12:21 ET — Regular session

• Warner Bros Discovery shares rose about 0.2% midday, trading near $29
• Investors remain focused on rival bids from Paramount Skydance and Netflix
• Paramount’s tender offer is set to run until Jan. 21, a key near-term trigger

Warner Bros Discovery shares edged higher on Monday, up about 0.2% at $28.86 by 12:21 p.m. ET, as trading stayed anchored around the prices implied by competing takeover proposals.

The stock has been effectively “deal-trading” as shareholders weigh a tender offer — a public bid that asks investors to sell their shares at a stated price — from Paramount Skydance against Warner’s agreed transaction with Netflix, ahead of a Jan. 21 deadline for investors to…