Investors betting on a Paramount Skydance Corp PSKY–Warner Bros Discovery Inc WBD tie-up aren't just buying into a flashy studio mash-up; they're staring down a high-stakes reshaping of Hollywood's balance of power. Thursday's price action was telling: WBD's 28% surge — its best day ever — signals Wall Street sees real M&A premium potential. In comparison, Paramount Skydance's 15% jump reflects investor faith in CEO David Ellison's acquisition strategy and deep capital backing from RedBird and Larry Ellison ...