Warner Bros. Discovery, the owner of HBO, CNN, and other cable networks, announced on Tuesday that it is putting itself up for sale. In a press release, the company revealed a “review of potential alternatives,” which is Wall Street terminology for exploring a possible sale.
The company stated that it has recently received “unsolicited interest” from “multiple parties for both the entire company and Warner Bros.” While Warner Bros. Discovery is considering these offers, it will continue to move forward with its previously announced plan to split its cable networks from its streaming and studio business.
Any potential deal involving part or all of the company would be substantial. As of Monday’s close of trading, Warner Bros. Discovery had a market value exceeding $45 billion. However, it also carries billions of dollars in debt on its balance sheet.
https://www.nbcnews.com/business/media/warner-bros-discovery-for-sale-rcna238857