OREANDA-NEWS The Board of Directors of the American Warner Bros. Discovery (WBD) on Tuesday rejected a purchase offer from Paramount Skydance media company, Western media reported, citing informed sources.

As CNBC notes, this was the third offer from Paramount, which offered to buy shares of WBD at a price slightly below $24 per paper, which corresponds to an estimate of the total value of the company at about $59.5 billion.

WBD reported yesterday that it has received offers from a number of potential buyers and intends to continue their consideration. The company will also continue to explore other strategic alternatives, including various options for separating and selling both the entire business and its individual segments.

Earlier in October, The Wall Street Journal reported that Paramount may be considering a hostile takeover of WBD.

WBD shares rose in price by 1.7% during trading on Wednesday.