"These parties were not named outright, but Bloomberg recently reported that Paramount submitted a $20/share bid for WBD, which the company rejected. CNBC reported that Netflix and Comcast might be in the mix, too. Netflix already is invested in the gaming space and continues to ramp up its efforts after some previous setbacks. WBD said its board will "evaluate a broad range of strategic options" moving forward as it relates to the company's previously announced plan to sell the entire company"
"CEO David Zaslav said he's trying to find a buyer or multiple buyers to help "unlock the full value of our assets." WBD board of directors chair Samuel A. Di Piazza Jr. added, "We continue to believe that our planned separation to create two distinct, leading media companies will create compelling value," but that it's important as well to "broaden" the scope of potential transactions to find a deal that pays the company the most possible money for its assets."
Warner Bros. Discovery has received unsolicited interest from multiple parties to acquire the entire company or just Warner Bros. Bloomberg reported Paramount submitted a $20/share bid that WBD rejected, and CNBC reported Netflix and Comcast could be interested. Netflix is already investing in gaming and ramping up after prior setbacks. WBD's board will evaluate a broad range of strategic options related to its plan to sell or break up the company. CEO David Zaslav is seeking buyers to unlock the full value of assets. Board chair Samuel A. Di Piazza Jr. supports creating two distinct media companies but wants to broaden transaction scope. No deadline was set; separation is booked by mid-2026. WBD raised HBO Max prices again, and the stock rose over 10%.
Read at GameSpot
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