Warner Bros. Discovery: group's sale considered, 3 Paramount offers rejected, including one for $60bn

Warner Bros. Discovery's board of directors "today announced it has initiated a review of strategic alternatives to maximise shareholder value, in light of unsolicited interest the company has received from multiple parties for both the entire company and Warner Bros.," announced the owner of the Eurosport group and the HBO Max platform, on 22/10/2025.

This process comes at a time when Warner Bros. Discovery has already rejected three takeover offers from media conglomerate Paramount Skydance (which also owns CBS Group), according to US financial news outlet CNBC. The latest offer, dated Tuesday 21/10/2025, is close to $60bn (€51.7bn), according to Reuters.

Among the options considered by Warner Bros. Discovery's board of directors are:
• the continuation of the demerger of the group into two companies (Warner Bros. and Discovery Global), announced in June 2025 and expected by mid-2026;
• a sale of the entire group;
• separate sales for its Warner Bros. and/or Discovery Global businesses.

"As part of the review, the Company will also consider an alternative separation structure that…