Warner Bros. Discovery, owner of HBO, CNN and other cable networks, announced Tuesday that it is putting itself up for sale.
In a press release, the company announced a “review of potential alternatives,” with Wall Street favoring a sale. WBD said it recently received “unsolicited interest” from “multiple parties, both across the company and Warner Bros.”
The company said that while doing its own research, it would continue to work on the previously announced separation of its cable networks from its streaming and studio businesses.
Any deal covering part of the entire business would be significant. As markets closed Monday, Warner Bros. Discovery had a market value of over $45 billion. It also carries billions of dollars of debt on its balance sheet.
In September, Paramount Global was preparing a bid for all of WBD, but it seemed to stall in recent weeks.
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