Film and TV giant Warner Bros Discovery has put itself up for sale after emerging at the centre of a bidding war between some of America’s biggest media firms.
The company – which owns movie studios behind hits such as Superman (pictured); the TV network HBO, the maker of Succession; and news station CNN, said in June that it would split its business into two, separating its TV and film production businesses.
But yesterday the company said it would begin a ‘strategic review’ of its options including selling the entire company rather than breaking it up.
The decision followed what Warner Bros said was ‘unsolicited interest’ from ‘multiple parties’ who wanted to buy the entire business or parts of its media empire.
Streaming giant Netflix and tech firm Apple are thought to be among the firms looking to pick off Warner’s assets. Shares soared 11pc on Wall Street last night.
Flying high: Warner Bros Discovery , which owns movie studios behind hits such as Superman (pictured) is at the centre of a bidding war
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