"Before Warner Bros. Discovery's Q3 earnings call even began on Thursday, the investor relations team made it clear that leadership did not want to talk about the company currently trying to sell parts of itself to potential bidders. Which wasn't exactly true. They didn't want to field specific questions, sure, but WBD's leadership kept talking about the hypothetical acquisition anyway."
"As of now, the plan is still to spin out Discovery Global as a standalone entity again, which is on track to happen in mid-2026. At the same time, there is an "active process underway" to determine a suitable buyer for Warner Bros' streaming and studios business, said CEO David Zaslav. And, a bonus, whichever company eventually grabs that deal will be the proud owner of a third "Gremlins" movie that's now set to debut in 2027, Zaslav also added."
"And the thing is, the WBD pot could use a little sweetening. (Although, to be fair, the studio business isn't the problem - that part of the company grew a whopping 24% year-over-year this past quarter.) WBD's total revenue for Q3 decreased at a YOY rate of 6%, from $9.6 billion last year to just over $9 billion this year."
Leadership avoided direct answers yet addressed potential sales during the Q3 call. The company plans a Discovery Global spin-out in mid-2026 while running an active process to find a buyer for Warner Bros' streaming and studios business. A third Gremlins film is scheduled for 2027 and will transfer to the eventual buyer. The studio segment grew 24% year-over-year. Total Q3 revenue fell 6% to just over $9 billion, impacted partly by comparisons to the 2024 Paris Olympics. Linear TV revenue declined 22% to $3.8 billion. Streaming ad revenue rose 15% to $235 million, and subscribers reached 128 million, up 2.3 million.
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