Tech Giants Circle Warner Bros. Discovery as Sale Process Begins
Warner Bros. Discovery (WBD) is preparing to share financial data with potential buyers, including tech industry heavyweights Netflix, Amazon, and Apple, as it explores a possible sale, according to a report from Bloomberg. The move comes after WBD received unsolicited interest for both the entire company and parts of its business, prompting a strategic review to maximize shareholder value.
WBD’s portfolio includes prominent brands like HBO, CNN, DC Studios, and its film studio. The company announced earlier this week it was launching a review of strategic alternatives following inquiries from multiple parties, including Paramount and Comcast. Nondisclosure agreements are being prepared for prospective buyers ahead of the data sharing phase.
Paramount Global recently finalized its own complex merger with Skydance Media.Bloomberg sources indicate WBD has already rejected three offers from Paramount, including a bid of up to $24 per share.
The potential acquisition of WBD, or portions of its assets, could significantly reshape the media landscape. WBD has also announced plans to separate its cable TV and streaming businesses next year, a move that could further influence the dynamics of any potential deal.The Paramount-Skydance merger suggests acquiring WBD as a whole may present challenges.
