Warner Bros Discovery (WBD) has officially announced it is considering its future, with a “review of strategic alternatives to maximise shareholder value”.
The company said it has made the decision “in light of unsolicited interest” it has received from multiple parties for both the entire company and Warner Bros.
The company’s board will evaluate a broad range of strategic options, including the sale of the entire company, or separate transactions for the Warner Bros and/or Discovery Global businesses, which are due to separate next summer.
“As part of the review, the company will also consider an alternative separation structure that would enable a merger of Warner Bros. and spin-off of Discovery Global to our shareholders,” said WBD in a 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,” said David Zaslav, president and CEO of Warner Bros Discovery.
“It’s no surprise that the significant value of our portfolio is receiving increased recognition by others in the market. After receiving interest from multiple parties, we have initiated a comprehensive review of strategic alternatives to identify the best path forward to unlock the full value of our assets.”
The company added there is no deadline or definitive timetable set for completion of the strategic alternatives review process.
