It’s been a fascinating time for the Hollywood system as many traditional movie studios have been through mergers or acquisitions of some kind. Now Warner Bros. Discovery, which was already the result of a merger between Warner Bros. and Discovery, is now reportedly putting itself up for sale.
This development, which seems to be simultaneously expected and unexpected, was confirmed in a press release made by the company. As shared via NBC News, their press release confirmed that the company is having “a review of strategic alternatives to maximize shareholder value.”
Additionally, Warner Bros. Discovery has made the statement that they’ve received “unsolicited interest” from “multiple parties for both the entire company and Warner Bros.” alone. As such, if the entirety of Warner Bros. Discovery isn’t sold, we could see certain assets related to the company change hands regardless.
As further summarized by the outlet, while Warner Bros. Discovery “shops itself around, it will continue to work on the previously announced split of its cable networks from its streaming and studio businesses.”
Warner Bros. Discovery holds plenty of different studios, cable networks, streaming platforms, and major IPs under its umbrella. As such, any kind of sale will be monumental in the current entertainment industry, and both consumers and industry employees are anxious to see how this situation plays out. After all, the company has just barely been getting back on its feet following the merger between Warner Bros. and Discovery.
The news also caused Warner Bros. Discovery shares to rise more than 10%. The market value at the time of NBC’s writing on the matter was recorded at $45 billion, which would make any kind of sale quite massive, especially with the company also holding several billions of dollars in debt.
As such, we’ll have to see what happens in the near future. Stay tuned to ScreenGeek for any additional updates regarding this possible sale only a few years after the merger of Discovery and Warner Bros. as we have them.