Warner Bros Discovery mulls sale
October 22, 2025
Warner Bros Discovery (WBD) – the parent company of the likes of HBO, CNN, DC Studios, Eurosport, TNT Sports, Cartoon Network and the Harry Potter franchise – is considering putting the entire company up for sale.
The company could also potentially split up Warner Bros and Discovery, and sell off Discovery while merging Warner Bros with another company, according to a press statement issued by WBD which said “it has initiated a review of strategic alternatives to maximise shareholder value, in light of unsolicited interest the company has received from multiple parties for both the entire company and Warner Bros”.
The announcement comes after the company rejected a bid from Paramount Skydance in the region of $60 billion, according to Reuters. Netflix is also rumoured to be considering an offer, despite co-CEO Ted Sarandos shooting down such notions in the past.
“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. 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,” said David Zaslav, President and CEO of WBD. “It’s no surprise that the significant value of our portfolio is receiving increased recognition by others in the market. 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.”
“Our decision to initiate this review underscores the Board’s commitment to considering all opportunities to determine the best value for our shareholders,” added Samuel A. Di Piazza, Jr., Chair of the WBD Board of Directors. “We continue to believe that our planned separation to create two distinct, leading media companies will create compelling value. That said, we determined taking these actions to broaden our scope is in the best interest of shareholders.”
There is no deadline or definitive timetable set for completion of the strategic alternatives review process, the company noted, adding that it does not intend to make any further announcements regarding the review of strategic alternatives unless the Board “approves a specific transaction or otherwise determines further disclosure is appropriate or necessary”.
Read Nick Snow’s WBD blog here.
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