Following previous mergers and restructuring, Warner Bros. Discovery is up for sale. Reports about the mᴀssive Hollywood studio being acquired have been appearing over the last few months, including one concerning a rejected offer from Paramount.
However, Warner Bros. Discovery has now announced in an official statement that they have properly begun “a review of strategic alternatives“ that would “maximize shareholder value.” David Zaslav, the President and CEO of WBD, shared the following statement:
We continue to make important strides to position our business to succeed in today’s evolving media landscape by advancing our strategic initiatives, returning our studios to industry leadership, and scaling HBO Max globally. We took the bold step of preparing to separate the Company into two distinct, leading media companies, Warner Bros. and Discovery Global, because we strongly believed this was the best path forward.
Zaslav stressed that “It’s no surprise that the significant value of [Warner Bros.’] portfolio is receiving increased recognition by others in the market.” The studio head confirmed that “after receiving interest from multiple parties, [they] have initiated a comprehensive review of strategic alternatives to identify the best path forward to unlock the full value of [their] ᴀssets.“
Samuel A. Di Piazza Jr., who operates as the Chair of the WBD Board of Directors, further explained: “Our decision to initiate this review underscores the Board’s commitment to considering all opportunities to determine the best value for our shareholders.” This comes only a few months after it was announced on June 9, 2025, that Warner Bros. and Discovery were being split up into two enтιтies.
Di Piazza commented on how they still stand behind this decision, saying: “We continue to believe that our planned separation to create two distinct, leading media companies will create compelling value. That said, we determined taking these actions to broaden our scope is in the best interest of shareholders.” The separation is still expected to be finished by April 2026.
At the time of writing, when it comes to the process of the company’s strategic alternatives, there is no set ᴅᴇᴀᴅline or “definitive timetable” for the new initiative. Warner Bros. also does “not intend to make any further announcements regarding the review of strategic alternatives,” but will only do so when “the Board approves a specific transaction or otherwise determines further disclosure is appropriate or necessary.“
According to a report from Puck on September 19, 2025, Netflix was reportedly considering bidding on Warner Bros. Discovery. However, Greg Peters, the CEO of Netflix, provided a very vague comment on October 9 concerning whether the hit streaming service was actually considering it.
If any of the other major Hollywood тιтans were to acquire Zaslav’s studio and ᴀssets, it could set up a major new era of IPs existing under the same umbrella. Following the interest in a sale becoming official, the future of Warner Bros. Discovery will be one of the biggest corporate stories in the world of entertainment.
