"Warner Bros. Discovery CEO David Zaslav said his company is being contacted by multiple parties interested in buying the media giant an announcement that sent its stock price shooting higher on Tuesday morning. Zaslav's announcement was included alongside a press release that said the WBD board of directors had initiated a strategic review of its options, after the company had received unsolicited interest recently."
"That announcement comes a few weeks after Bloomberg reported WBD rebuffed a $20 per share offer from Ellison and new Paramount. The Hollywood Reporter on Tuesday also noted CNBC's David Faber said Netflix and Comcast have also looked at buying WBD. CNBC also reported on Tuesday that WBD decided to announce it was open to offers after having rejected another bid that was higher than Paramount's $20 per share proposal, according to one person familiar with the mat"
Warner Bros. Discovery received unsolicited interest from multiple parties and the board initiated a comprehensive strategic review of options. CEO David Zaslav confirmed outreach and said increased market recognition of the company's portfolio value. The company plans to split into two units: a studio and streaming entity including HBO, and a global networks entity encompassing channels like CNN, TNT, and Discovery. Paramount Global, led by David Ellison, pursued an acquisition with a $20-per-share bid reportedly rebuffed. CNBC and The Hollywood Reporter noted interest from Netflix and Comcast. WBD shares jumped intraday and were trading around $19.92 per share, up 87% year-to-date.
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