Warner Bros. Discovery says it’s open to a sale; shares jump

Warner Bros. Discovery It said on Tuesday it was expanding its strategic review of the business and was open to a sale, and the company’s shares rose 8% in pre-market trading.

Earlier this year, WBD announced plans to split into two separate entities: its broadcast and studio business and its global network business. At the same time, takeaway service attracts the attention of new conglomerates. Paramount Skydance.

But on Tuesday WBD said it had received “unwanted interest” from multiple parties and would now review all options. Meanwhile, the company said progress toward the previously announced separation continues.

“We continue to take significant steps to position our business to succeed in today’s evolving media environment by advancing our strategic initiatives, returning our studios to industry leadership, and scaling HBO Max globally,” CEO David Zaslav said in a statement. “We took the bold step of preparing to split the company into two distinct, leading media companies, Warner Bros. and Discovery Global, because we strongly believed this was the best path forward.”

“It is no surprise that the significant value of our portfolio is increasingly being recognized by others in the market. After seeing interest from multiple parties, we have initiated a comprehensive review of strategic alternatives to determine the best path forward to unlock the full value of our assets,” he said.

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