Warner Bros. Discovery explores sale as Paramount expresses interest

(ABC36 NEWS NOW) – Warner Bros. Discovery is exploring a potential sale, with several buyers reportedly expressing interest, including Paramount Skydance.

Officials say the company’s board of directors has begun reviewing its options, which could include a full sale or breaking the company into separate pieces. CEO David Zaslav has long suggested that splitting the company could increase its value, but Paramount recently made an initial bid to acquire the entire organization. Sources report the board rejected that offer, saying it was too low.

Following the announcement, WBD shares rose more than seven percent in pre-market trading Tuesday.