Warner Bros Discovery Is Officially For Sale

TV & Film

Oct 24

Warner Bros Discovery (WBD) announced on Tuesday that it’s up for sale. Their official statement mentioned “a review of strategic alternatives to maximize shareholder value,” which in layman’s terms means it’s up for sale. The company disclosed multiple “unsolicited interests” for the company as a whole and Warner Bros. alone. Given Warner Bros.' merger with Discovery, the company comprises a wide range of media businesses, including cable, streaming platforms, movie studios, and news outlets. WBD already planned on separating its cable networks from its streaming platform and studios. Despite the announcement, that project will continue as planned for the time being.

As of Monday, WBD’s value sits at over $45 billion, albeit accompanied by billions of dollars of debt. The steady migration of cable consumers to streaming platforms was the catalyst for several mergers over the years. Skydance acquired Paramount, and Comcast will consolidate some of its properties, including CNBC and MSNBC, into the new company Versant. Peacock, Bravo, and NBC will all still be part of Comcast. According to a pair familiar with the situation, Comcast was one of the companies interested in buying WBD. However, the pair said that the company has a high bar in place to achieve a deal.

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