Warner Bros. Discovery Is Up for Sale. Its Stock is Up 10%.

Core Viewpoint - Warner Bros. Discovery is initiating a strategic review to maximize shareholder value amid unsolicited interest from multiple parties for the entire company and its Warner Bros. segment [2][6] Group 1: Strategic Review and Market Response - Shares of Warner Bros. Discovery surged over 10% following the announcement of the strategic review, marking it as one of the leading advancers on Nasdaq [1] - The company's stock has increased by 90% this year, significantly influenced by news of a potential cash bid from Paramount Skydance [3][6] Group 2: Potential Options and Industry Context - The strategic options under consideration include completing the planned separation by mid-2026, a transaction for the entire company, or separate transactions for its Warner Bros. and/or Discovery Global businesses [4][5] - The review reflects ongoing restructuring trends in the media industry, highlighting the pressures traditional entertainment companies face from tech-driven streaming competitors [2]