Warner Bros. Discovery spikes after it says it’s gotten takeover interest from multiple parties
With a name like Warner Bros. Discovery, you wouldn’t expect WBD to be particularly anti-consolidation. As it fields interest from Paramount Skydance, the company said Tuesday it’s open to a sale.
Paramount Skydance isn’t the only party that’s interested, according to WBD. Shares of the HBO and CNN parent climbed 11% shortly after markets opened.
“It’s no surprise that the significant value of our portfolio is receiving increased recognition by others in the market. 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,” CEO David Zaslav said in a statement.
In June, Warner Bros. Discovery announced its plans to split into two separate publicly traded companies, unlinking its streaming and film studios business from its cable TV networks.
“It’s no surprise that the significant value of our portfolio is receiving increased recognition by others in the market. 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,” CEO David Zaslav said in a statement.
In June, Warner Bros. Discovery announced its plans to split into two separate publicly traded companies, unlinking its streaming and film studios business from its cable TV networks.
