Mattel shares surged 23% on Thursday after the Wall Street Journal reported that Authentic Brands Group approached the toy maker about a potential takeover. According to people familiar with the matter, Authentic has been privately discussing an offer that could value Mattel at more than $20 per share, or around $6 billion or more. The potential offer represents a premium of more than 58% to Wednesday's closing price of $12.66, which gave Mattel a market value of approximately $3.6 billion. Mattel's stock has declined more than 33% this year. There is no guarantee the companies will reach a deal, and another buyer could emerge. Mattel announced on Wednesday that Roger Lynch will become CEO within the next month, which could complicate any transaction.

Steven Bartlett, host of "The Diary of a CEO" podcast, is partnering with Authentic Brands Group to launch OBSN, a venture that will invest up to $400 million in helping creators build businesses. The initiative aims to provide creators with capital, infrastructure, and expertise to develop lasting enterprises through media, products, and partnerships. Bartlett's podcast has amassed about 20 million YouTube subscribers and became the number one business podcast on Spotify in the US. The venture combines Bartlett's creator experience with Authentic's brand management expertise. Authentic's portfolio includes over 50 brands, such as Reebok, Shaquille O'Neal, and Sports Illustrated. The companies haven't specified how many creators will receive funding or detailed timelines, saying only that funds will be deployed "over the coming years.