The board of directors at Warner Bros. Discovery has finally acknowledged a potential sale of the company as they have “initiated a review of strategic alternatives to maximise shareholder value”.
The wording comes from a press release issued this morning in which the board revealed it has received ‘unsolicited interest’ from ‘multiple parties’ and is contemplating them.
Under consideration are the previously announced split and spin-off of the company, a “transaction for the entire company”, and “separate transactions for its Warner Bros. and/or Discovery Global businesses”.
There’s also an “alternative separation structure” being potentially offered, which would allow for the two entities of Warner Bros. and spin-off Discovery Global to merge.
David Zaslav, the president and CEO of Warner Bros. Discovery, said in a statement the studio has “receiving interest from multiple parties” which has lead to this review initiation.
The news comes as Warner Bros. Discovery also announced a price hike for all the plans on its HBO Max streaming service, with the ad-supported tier up $1 to $10.99, the standard plan up $1.50 to $18.49, and the premium plan up $2 to $22.99. The price increases go into effect immediately, with existing subscribers getting 30 days notice.
Source: THR
