Warner Bros. Discovery Considers Sale Amid Strategic Review
Warner Bros. Discovery has initiated a strategic review following unsolicited interest from multiple parties, sending its shares soaring by 10% in Tuesday trading. The media giant, home to HBO, CNN, and Warner Bros. studios, has seen its stock surge 90% this year as speculation mounts over a potential breakup or acquisition.
The MOVE reflects broader upheaval in the entertainment sector, where traditional players face mounting pressure from streaming competitors. Paramount Skydance, backed by the Ellison family, had previously been reported to be preparing a bid for the entire company.