Warner Bros Discovery Is Up For Sale

2025-10-21T16:02:20Z

Warner Bros. Discovery, the owner of HBO, CNN, and other streaming and studio businesses, said Tuesday it is putting itself up for sale.

In a press release, the company announced "a review of strategic alternatives to maximize shareholder value," which is Wall Street speak for a sale. WBD said it had recently received "unsolicited interest" from "multiple parties for both the entire company and Warner Bros." alone.

WBD houses a variety of media businesses, from cable networks and news outlets to popular franchises, movie studios and streaming platforms. The company also holds the rights to broadcast a range of sports internationally, from the Olympics and the French Open in Europe to the Premier League in the UK.

The company said that while it shops itself around, it will continue to work on the previously announced split of its cable networks from its streaming and studio businesses.

The move comes as the media industry has continued a years-long consolidation effort sparked in part by changes in consumer habits, most notably the rise of internet-based competitors such as Netflix and the decline in cable TV viewership.

Any deal for part, or all, of the company would be a sizable one. As of Monday's close of trading, Warner Bros. Discovery had a market value of more than $45 billion. It also carries billions of dollars of debt on its balance sheet.

WBD's studio business could be attractive to a streaming or tech company. It has released a number of recent box office hits and holds the rights to Harry Potter and to DC Comics heroes such as Superman, as well as other popular franchises.

https://www.nbcnews.com/business/media/warner-bros-discovery-for-sale-rcna238857