Warner Bros Discovery (WBD) has stated that it is considering a sale, after "multiple parties" made “unsolicited” offers to buy the company.
David Zaslav, President and CEO of WBD, said in a statement published this week that the WBD board would review its options following the bids, as it looks to identify the "best path forward to unlock the full value of our assets".
.jpg)
David Ellison's Paramount Skydance is among the companies reported to be interested in an acquisition of the rival studio. However, WBD has already rejected a bid from Paramount for being too low.
Reports also say that NBCUniversal parent Comcast is among the companies interested in WBD’s assets.
WBD’s statement said the strategic review followed “unsolicited interest the company has received from multiple parties for both the entire company and Warner Bros.” This suggests the review could result in: a sale of the entire company; a continuation of the current plan to split the company into two; or another outcome.
Zaslav has been preparing to split the company into two publicly traded halves, believing it would better reflect the value of Warner Bros, which would include streaming platform HBO Max and the movie studio, and Discovery Global, which would house CNN and other cable channels.
The move comes as the media industry continues to consolidate, sparked partly by changes in audience habits, most notably the rise of streaming competitors, such as Netflix, and the decline in cable TV viewership.
Skydance Media and Paramount Global recently completed their long-planned $8.4bn merger. Discover more here.
Enghouse Networks partners with INVIDI
Telecoms and media specialist Enghouse Networks and addressable TV advertising provider INVIDI Technologies have announced a new integration that reportedly expands advanced advertising capabilities across IP video environments.
Sports content races ahead in SVOD – Gracenote
Analysis by Gracenote, the content intelligence business unit of Nielsen, has shown that sports have quickly become a foundational part of the subscription video-on-demand (SVOD) content mix and now make up 5% of overall programming on leading services.
Bitmovin wins MUBI deal
Video streaming software specialist Bitmovin has been selected by film company MUBI as its cloud VOD encoding partner for its streaming platform.
Subtitles usage booms in UK, but many ads still need sound – report
Research from advertising platform XR Extreme Reach has found that subtitles have become mainstream viewing behaviour across streaming, social, and broadcast content in the UK, particularly among younger audiences.
Telefónica and Sony test ultra-fast 5G at Movistar Arena
Telefónica and Sony have carried out a 5G connectivity trial at Madrid’s Movistar Arena, achieving speeds of several gigabits per second by using the 26 GHz band, also known as the millimetre band or mmWave.
.jpg)