Overview
- The board opened a formal review of strategic alternatives following interest in both the entire company and the Warner Bros. studio unit, with no assurance the process will lead to a deal.
- Management said the previously announced plan to split into two companies remains an option, and an alternative structure under study would merge Warner Bros. while spinning off Discovery Global.
- News reports named Netflix and Comcast as potential bidders, and earlier reporting linked David Ellison’s Skydance and Paramount to talks about a possible acquisition.
- Warner Bros. Discovery previously rejected an initial proposal of about $20 per share tied to Paramount, according to Bloomberg News.
- Shares rose roughly 10.5% in morning trading after the announcement, reflecting investor focus on consolidation pressures and the appeal of WBD’s streaming and studio assets.