Tue, 21 Oct 2025

Tue, 21 Oct 2025 Warner Bros Discovery explores sale citing buyer interest

The announcement sets the stage for a potential bidding war over the US media conglomerate that owns HBO, CNN and other networks.
Warner Brothers Discovery, owner of HBO, CNN, and other networks, is considering a sale after receiving unsolicited bids from multiple parties. CEO David Zaslav stated that the company will review its options to determine the "best path" to unlock its assets' full value. Shares jumped 11% following the announcement, setting the stage for a potential bidding war. Paramount Skydance, led by David Ellison, is reportedly one of the interested buyers. The company rejected an earlier bid from Paramount valued at nearly $24 per share. Warner Brothers Discovery's shares were trading at around $20 at market close in New York. The media industry has been consolidating rapidly due to pressures from streaming and declining traditional pay TV audiences and advertising. Warner Brothers Discovery, formed three years ago through a merger between Warner Media and Discovery, is heavily burdened with debt and has been losing money. Analysts note that the company's rich library of franchises, including Harry Potter and Lord of the Rings, makes it an attractive target for firms looking to bolster their online streaming offerings. However, the value of its cable networks is less clear. Warner Brothers Discovery's board will review other options, including a sale or partial sale of the business, alongside its original plan to split its streaming and traditional operations.
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