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Warner Bros. Discovery is reviewing a potential sale of the company, citing unsolicited interest in the entire entity, even as it continues to pursue a spinoff of its cable assets, which is already underway.
The news follows reports that David Ellison's Paramount Skydance is pursuing a bid for WBD as he builds a media and tech powerhouse.
"We continue to make important strides to position our business to succeed in today's evolving media landscape by advancing our strategic initiatives, returning our studios to industry leadership, and scaling HBO Max globally," said David Zaslav, President and CEO of Warner Bros. Discovery. "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.
"It's no surprise that the significant value of our portfolio is receiving increased recognition by others in the market," he added. "After receiving interest from multiple parties, we have initiated a comprehensive review of strategic alternatives to identify the best path forward to unlock the full value of our assets."
This story will be updated.
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