""We continue to make important strides to position our business to succeed in today's evolving media landscape by advancing our strategic initiatives, returning our studios to industry leadership, and scaling HBO Max globally," said Zaslav, president and CEO of Warner Bros. Discovery, in an announcement. "We took the bold step of preparing to separate the Company into two distinct, leading media companies, Warner Bros. and Discovery Global, because we strongly believed this was the best path forward.""
""It's no surprise that the significant value of our portfolio is receiving increased recognition by others in the market," he added. "After receiving interest from multiple parties, we have initiated a comprehensive review of strategic alternatives to identify the best path forward to unlock the full value of our assets.""
Warner Bros. Discovery announced a review of a potential sale of the entire company after receiving unsolicited interest, while continuing a planned spinoff of its cable assets. CEO David Zaslav emphasized efforts to strengthen studios, scale HBO Max globally, and prepare to split the business into two companies: Warner Bros. and Discovery Global. Reports indicate interest from David Ellison's Paramount Skydance with backing from Larry Ellison. The company set no deadline for the review and warned it may decide against any transaction. Market consolidation amid streaming competition underlies strategic moves.
Read at Business Insider
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