Overview
- The company said it has received unsolicited interest from multiple parties for the entire firm and for Warner Bros., and it will evaluate a full-company sale, separate asset sales, or an alternative separation structure.
- WBD said its planned split into Warner Bros. (streaming and studios) and Discovery Global (networks) remains on track for completion by mid-2026.
- Shares rose roughly 8% to 10% in early trading after the announcement.
- Allen & Company, J.P. Morgan and Evercore are advising WBD, with legal counsel from Wachtell, Lipton, Rosen & Katz and Debevoise & Plimpton LLP.
- Media reports say Paramount Skydance previously offered around $20 per share and was rebuffed, with Comcast and Netflix also cited as potential suitors, while WBD set no timetable and said it will not provide further updates unless a deal is approved.