Warner Bros. Discovery Confirms It Has Received Buyout Interest and is Considering Its Options

BURBANK, CALIFORNIA – SEPTEMBER 12: An American flag flies at Warner Bros. Studio on September 12, 2025 in Burbank, California. Media giant Paramount Skydance is reportedly preparing a bid to purchase Warner Bros. Discovery, including its movie studio and cable networks. (Photo by Mario Tama/Getty Images)

NEW YORK (AP) — Warner Bros. Discovery — the home of HBO, CNN and DC Studios — has signaled that it may be open to selling all or parts of its business, just months after announcing plans to split into two companies. In an announcement Tuesday, the entertainment and media giant said it had initiated a review of “strategic alternatives” in light of “unsolicited interest” it had received from multiple parties for both the entire company and Warner Bros. specifically. Warner Bros. Discovery did not specify who that interest was coming from — but the review arrives after reports of a potential bidding war. Shares of Warner Bros. Discovery jumped nearly 10% Tuesday.