Warner Bros. Discovery Weighs Sale After Bids

Warner Bros. Discovery said Tuesday it has opened a review of strategic alternatives after receiving unsolicited interest from multiple parties for both the whole company and its Warner Bros. unit, signaling it may be open to a sale. CEO David Zaslav said the move is intended to “unlock the full value” of the company’s portfolio, and the announcement sent shares sharply higher. Reported suitors include Paramount Skydance (led by David Ellison), and outlets have named Netflix and Comcast among potential bidders. The company, formed by a merger three years ago, carries heavy debt and has some loss-making divisions, and had already announced plans to split into Warner Bros. (streaming and studios) and Discovery Global (cable/networks) by mid-2026, though that separation remains one option. The board gave no firm timeline and said it will evaluate all alternatives, including a sale of the whole company or parts of it.