NEW YORK — Just months after asserting plans to separate into two corporations, Warner Bros. Discovery has signaled that it could also be open to a sale of its enterprise.
In an announcement Tuesday, the leisure large stated it had initiated a evaluation of “strategic alternatives” in gentle of “unsolicited interest” it had received from a number of events for each your entire company and Warner Bros particularly.
Warner Bros. Discovery didn’t specify the place that curiosity was coming from, and a spokesperson stated the company couldn’t share further data when reached by The Associated Press on Tuesday. But its evaluation arrives after rising experiences of a possible bidding conflict — together with from Skydance-owned Paramount, which closed its personal $8 billion merger in early August.
Citing nameless sources conversant in the matter, The Wall Street Journal lately reported that Paramount approached Warner a couple of potential majority-cash supply in late September — however that Warner Chief Executive David Zaslav had rebuffed these first overtures. According to the outlet, Paramount Skydance CEO David Ellison later thought of taking a extra aggressive strategy, comparable to going on to shareholders.
CNBC has additionally reported that Netflix and Comcast are among the many events, citing unnamed sources. Comcast declined to remark Tuesday. Paramount and Netflix didn’t instantly reply to the AP’s requests for statements.
Back in June, Warner Bros. Discovery outlined plans to separate its cable and streaming choices — with HBO, HBO Max, in addition to Warner Bros. Television, Warner Bros. Motion Picture Group, DC Studios, to change into half of a brand new streaming and studios company; whereas networks like NCS, Discovery and TNT Sports and digital merchandise such because the Discovery+ streaming service and Bleacher Report would make up a separate cable counterpart.
Warner anticipated the cut up to be full by mid-2026 — and stated Tuesday that persevering with to advance this separation was nonetheless among the many choices it’s now contemplating.
“We took the bold step of preparing to separate the Company into two distinct, leading media companies, Warner Bros. and Discovery Global, because we strongly believed this was the best path forward,” Zaslav stated in an announcement. Still, he added, “it’s no surprise that the significant value of our portfolio is receiving increased recognition by others in the market.”
The company stated that there’s no particular timeline for its evaluation course of — and famous that, past the separation that’s already underway, “there can be no assurance” that the method will lead to a transaction.
Shares of Warner Bros. Discovery, headquarted in New York, jumped greater than 9% Tuesday morning.