Warner Bros. Discovery Weighs Sale, Split Amid Bids

Warner Bros. Discovery said it has launched a comprehensive review of strategic alternatives after unsolicited interest from multiple parties and will consider offers for the entire company or for parts of it. The board said options include continuing the planned split into Warner Bros. and Discovery Global, a transaction for the entire company, separate sales of Warner Bros. and/or Discovery Global, or alternative separation structures such as a merger plus a spin‑off. CEO David Zaslav said the outreach reflects recognition of the portfolio’s value and that the company is expanding the review while continuing work on the planned separation toward mid‑2026. Reported suitors include David Ellison’s Paramount Skydance (which recently made a rebuffed, reportedly lowball offer) and other potential bidders or partners such as Comcast, Netflix and private‑finance backers like Apollo. WBD shares jumped roughly 7–8% in premarket trading on the news as the company said the process is ongoing while it evaluates the best path to unlock full value for shareholders.