Netflix, Comcast and Paramount Skydance are reportedly among possible bidders in sale that could shake up industry
Warner Bros Discovery is considering an outright sale following interest from several potential buyers, the company said Tuesday, in what would be the latest shakeup across legacy media.
Shares of the company rose 10.5% in morning trading. Netflix and Comcast are among the potential bidders, CNBC reported Tuesday, citing sources, following earlier reports that Paramount Skydance CEO David Ellison was also in talks to acquire the combined company.
Warner Bros Discovery – home to CNN, HBO Max and the “Harry Potter” franchise – announced plans in June to split its Warner Bros and Discovery Global units by next year to separate its growing streaming business from its slower-growing legacy cable network unit.
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 their own structures. Streaming has fundamentally reshaped the media industry, leaving traditional broadcasters with mounting debt, higher content budgets and fragmented viewership.
