Warner Bros Discovery weighs possible sale amid split plans
Warner Bros Discovery (WBD) is exploring a potential outright sale following interest from several buyers, even as it moves forward with a planned split into two separate companies, the company announced Tuesday.
Shares surged around 8% in premarket trading after the news. No definitive timetable has been set for the strategic review process, News.Az reports, citing Reuters.
Media reports suggest Paramount Skydance CEO David Ellison is in talks to acquire the company before its planned separation into Warner Bros and Discovery Global.
The media landscape has shifted dramatically due to streaming growth, rising content costs, and declining linear TV audiences. Warner Bros Discovery, home to CNN, HBO Max, and the “Harry Potter” franchise, has been trimming jobs and restructuring its operations to unlock asset value ahead of next year’s split.
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