Topline
Warner Bros. Discovery on Tuesday announced it would consider selling the company after receiving interest from “multiple parties,” following reported interest in recent weeks from Paramount Skydance—backed by the billionaire Ellison Family—and Netflix.
The company said it received “unsolicited interest” from “multiple parties.”
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Key Facts
Warner Bros. Discovery, in a press release Tuesday, said it would launch a “review of strategic alternatives to maximize shareholder value” after receiving “unsolicited interest” from “multiple parties” for both the entire company and Warner Bros.
The review will include Warner Bros. Discovery’s plans to split into separate streaming, studios and global network entities by mid-2026, a transaction for the entire company, or separate transactions for Warner Bros. or Discovery Global, or both, the company said.
Warner Bros. Discovery said there is no deadline or definitive timetable for completing the review process, noting that there is “no assurance” the process will conclude in a sale.
Shares of Warner Bros. Discovery surged 10% to around $20.15 shortly after the announcement.
Who Could Buy Warner Bros. Discovery?
Paramount Skydance, run by David Ellison, son of billionaire Oracle chairman Larry Ellison, reportedly submitted a bid backed by Apollo Global Management for Warner Bros. Discovery at roughly $20 per share, though it was rejected as being too low. Earlier this month, speculation circulated that Netflix would pursue an acquisition bid for Warner Bros. Discovery, but Netflix co-CEO Greg Peters appeared to deny those claims, suggesting “big media mergers” don’t “have an amazing track record over time.” Comcast is also expected to be among the interested parties, CNBC reported.
This is a developing story.