Overview
- Warner Bros. Discovery confirmed a formal review of strategic alternatives and said it is fielding interest from multiple parties.
- Netflix has retained Moelis & Co. and been granted access to WBD’s financials as it evaluates a potential offer.
- Netflix co‑CEOs have said they do not want legacy TV networks, signaling any approach would focus on studio and streaming assets.
- Paramount Skydance made bids reported at about $20 and $24 per share, both of which WBD rejected.
- WBD plans a 2026 split separating studio/streaming from linear networks and is working against a reported $30–$40 billion debt load.