United States media conglomerate Warner Bros. Discovery said it is considering putting the entire company up for sale after “multiple parties” made unsolicited offers to buy.
This comes after the company initially said it would split Warner Bros and Discovery after they were merged in 2022, but is now considering a complete sale after receiving interest.
"It's no surprise that the significant value of our portfolio is receiving increased recognition by others in the market,” Warner Bros. Discovery president and CEO David Zaslav said.
“After receiving interest from multiple parties, we have initiated a comprehensive review of strategic alternatives to identify the best path forward to unlock the full value of our assets."
The company’s Board of Directors has initiated a review of whether selling the company as a whole or splitting it would have greater shareholder value.
A sale or split of the company could cause a shake-up in the media industry and potentially prompt other legacy media houses to revisit their own structures.
It has been reported that players like Paramount Skydance owner David Ellison are interested in the acquisition.
Ellison was reported to be in talks to acquire the combined business before its planned split into Warner Bros and Discovery Global.
The company rejected an initial bid from Paramount, Bloomberg News reported earlier this month, because the offer of around $20 per share was too low.
Warner Bros. said there is no deadline or definitive timetable set for the strategic alternatives review process.
At the time of writing, Warner Bros Discovery (NASDAQ: WBD) shares are trading 10.97% higher than the previous close at US$20.33
