Warner Bros. Discovery is weighing a potential sale or spinoff of its assets, signaling a major shake-up for the media giant behind HBO, CNN, and the Warner Bros. movie studio. In a statement released Tuesday, the company confirmed it's exploring various deals, including a full sale or breaking off parts of the business, after receiving "unsolicited interest" from potential buyers, per NBC News. The company didn't name any of the interested parties but said there were "multiple." Paramount is reportedly among them, per the New York Times.
Earlier this year, Warner Bros. Discovery announced plans to separate its streaming and studio operations from its cable networks—a move designed to free high-growth assets like HBO Max from legacy cable brands such as TNT and CNN. Company executives anticipate that the restructuring will make the company a more attractive target, particularly for buyers eyeing the streaming business.
Paramount has reportedly shown interest in acquiring Warner Bros. Discovery in its entirety before any split occurs, as it continues to view legacy TV as a key profit driver. Analysts suggest that major tech firms—including Netflix, Amazon, and Apple—could emerge as bidders for the streaming unit or even the entire company, in light of Paramount's interest. The company, which holds the rights to Harry Potter, DC Comics, and attention-grabbing sports events like the Olympics and French Open, was valued at more than $45 billion at close of trading on Monday, per NBC.
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