Overview
- The board launched a formal review of strategic alternatives that includes selling the whole company or specific units such as Warner Bros. studios.
- The review proceeds alongside June’s plan to split into a Streaming & Studios business and a Global Networks entity, with alternative separation structures also being evaluated.
- Reported suitors include Netflix and Comcast, with additional reporting of approaches from Paramount/Skydance and interest from Apple and Amazon.
- Shares jumped roughly 10–11% on the news, after earlier reports that a Paramount/Skydance offer near $20 per share was rejected as too low.
- A debt load widely cited around $35–40 billion and tougher streaming economics are key factors, and the company cautions there is no certainty of a transaction.