(Reuters) -The Warner Bros Discovery ( WBD ) board on Tuesday morning rejected a Paramount Skydance ( PSKY ) offer of nearly $24 per share to buy the company, a source familiar with the matter said. 

The mostly cash offer for the Warner Bros film and television studios, cable networks including CNN, and the HBO Max streaming service is valued at slightly less than $60 billion.

Neither Warner Bros Discovery ( WBD ) nor Paramount would comment on the offer.