"Warner Brothers Discovery the parent company of CNN and HBO Max is considering a sale amid unsolicited interest in the company marking the latest shake up across US legacy media. The New York City based media conglomerate announced the possible sale on Tuesday. list of 4 itemsend of list Several major media giants have reportedly expressed interest. Netflix and Comcast are said to be interested parties according to CNBC which cited unnamed sources familiar with the deal."
"In June, Warner Bros Discovery announced it would split Warner Bros and Discovery Global units separating its streaming businesses from its cable network unit. The company has doubled down in the streaming space in recent weeks. On Thursday, CNN announced a new subscription streaming service called CNN All Access two years after CNN+ its short-lived streaming platform shuttered. 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"
Warner Brothers Discovery is considering a sale after receiving unsolicited interest from major media companies. Comcast, Netflix and Paramount-Skydance have reportedly expressed interest, with CNBC and other outlets citing unnamed sources. In June, the company announced plans to split Warner Bros and Discovery Global units, separating streaming businesses from cable networks, and is also considering an alternative separation that could enable a Warner Bros merger and a Discovery Global spin-off. CNN launched a new subscription service, CNN All Access, two years after CNN+ shuttered. The company previously rejected a roughly $20-per-share bid from Paramount. Streaming-driven consolidation is pressuring legacy broadcasters with higher costs and fragmented audiences.
Read at www.aljazeera.com
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