Warner Bros, Paramount Skydance extend gains to second day after acquisition report

Shares of Warner Bros Discovery WBD.O surge 9.3% to $17.67 and Paramount Skydance PSKY.O up 2.9% at $17.97, both extending previous day's sharp rally

PSKY jumped 15.6% on Thursday after reports co is preparing a bid to buy Warner Bros Discovery WBD.O, potentially reshaping the entertainment industry

WBD ended 28% higher in prior session

The deal would come just weeks after Skydance merged with Paramount in an $8.4 bln deal

PSKY is headed by David Ellison, son of billionaire Oracle ORCL.N co-founder Larry Ellison

Including session's move PSKY up 72% YTD, while WBD has climbed 67.3%