Wednesday, October 22, 2025- Warner Bros. Discovery (WBD) has confirmed it is reviewing “strategic alternatives” following interest from multiple potential buyers. The company is considering options including a sale of the entire company, its Warner Bros. division, or its planned mid-2026 split into two separate entities.
Among the interested parties is Paramount Skydance, which reportedly made an initial $20-per-share offer that WBD rejected. Other suitors, including Netflix and Comcast, have also shown interest in the company’s studio and streaming assets.
WBD’s board is working with financial advisors to determine the best path forward for shareholder value. The company’s stock rose over 9% after the announcement, reflecting investor optimism. A final decision could significantly reshape the media landscape, given WBD’s portfolio includes HBO, Warner Bros. Studios, CNN, and TNT.
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