Warner Bros. Discovery is officially listing itself for sale with an initiative to review multiple “strategic alternatives”.
WBD issued a press release on Tuesday stating it has begun the process of reviewing various options to maximize shareholder value after receiving “unsolicited interest from multiple parties for both the entire company and Warner Bros.”
Through this process, the Warner Bros. Discovery Board will evaluate a broad range of strategic options, which will include continuing to advance the Company’s planned separation to completion by mid-2026, a transaction for the entire company, or separate transactions for its Warner Bros. and/or Discovery Global businesses. As part of the review, the Company will also consider an alternative separation structure that would enable a merger of Warner Bros. and spin-off of Discovery Global to our shareholders.
CNBC reports that WBD has rejected several bids from Paramount and a separate bid from another party, which was larger. The outlet also states that Netflix and Comcast are among the interested parties.
In June, WBD announced plans to split the company with the Streaming & Studios side (Warner Bros. Television, Warner Bros. Motion Picture Group, DC Studios, HBO, and HBO Max, along with film & television libraries) separated from Global Networks (CNN, TNT Sports in the U.S., Discovery, Discovery+, and Bleacher Report).
WBD currently holds a market value of $45 billion, but also has billions of dollars in debt.
The company stated there is no timetable for the completion of this strategic review nor the guarantee of any transaction.
