"Warner Bros Discovery is considering an outright sale following interest from several potential buyers, the company said Tuesday, in what would be the latest shakeup across legacy media. Shares of the company rose 10.5% in morning trading. Netflix and Comcast are among the potential bidders, CNBC reported Tuesday, citing sources, following earlier reports that Paramount Skydance CEO David Ellison was also in talks to acquire the combined company."
"Warner Bros Discovery home to CNN, HBO Max and the Harry Potter franchise announced plans in June to split its Warner Bros and Discovery Global units by next year to separate its growing streaming business from its slower-growing legacy cable network unit. A sale or a split would be one of the most consequential reshaping moments in the media industry, potentially prompting other legacy media houses to revisit their own structures."
"Streaming has fundamentally reshaped the media industry, leaving traditional broadcasters with mounting debt, higher content budgets and fragmented viewership. This latest development potentially opens up further discussions with interested parties. For Hollywood and other traditional media giants, all roads lead to consolidation, PP Foresight analyst Paolo Pescatore said. The company already 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 Discovery is exploring an outright sale after attracting interest from multiple potential buyers, and its shares rose on the news. Potential bidders include Netflix, Comcast, and Paramount Skydance, with talks involving David Ellison reported. The company previously planned a split to separate a growing streaming business from a slower legacy cable network unit. A sale or separation could trigger broader media consolidation as streaming pressures leave traditional broadcasters with mounting debt, higher content costs and fragmented audiences. The company rejected a roughly $20-per-share offer and is weighing alternative separation structures and merger options.
Read at www.theguardian.com
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