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Warner Bros. Discovery, owner of HBO, CNN and other media assets, says it is up for sale

  • On Tuesday, Warner Bros. Discovery said it is putting itself up for sale and launched a review while continuing its planned split of cable networks from streaming and studio businesses.
  • Warner Bros. Discovery said it had recently received 'unsolicited interest' from multiple parties, while Paramount Global's September bid appeared to stall in recent weeks.
  • As of Monday, Warner Bros. Discovery had a market value of over $45 billion and is supported by financial advisors Allen & Company, J.P. Morgan, and Evercore, with legal counsel Wachtell Lipton, Rosen & Katz, and Debevoise & Plimpton LLP.
  • The Warner Bros. Discovery board said there is no deadline or definitive timetable for the strategic alternatives review and no assurance it will lead to a transaction.
  • Through the review, the Warner Bros. Discovery board will evaluate a broad range of strategic options, including the sale of the entire company or separate transactions for Warner Bros. and Discovery Global, and consider an alternative separation structure enabling a merger and spin-off option.
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By Brian Stelter, CNN Warner Bros. Discovery, the parent company of CNN (and CNN en Español), is considering a sale. The media giant said it has received “multiple” expressions of interest from potential buyers, indicating that Paramount Skydance is not the only suitor for the company. In a statement released Tuesday morning, Warner Bros. Discovery said its board of directors has initiated a “review of strategic alternatives,” which could result…

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Film Stories broke the news in on Tuesday, October 21, 2025.
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