CNBC·2025-11-05 18:12Core Viewpoint - Paramount Skydance is interested in acquiring Warner Bros. Discovery, which is currently for sale and expected to announce its plans by mid to late December [1][2]. Group 1: Acquisition Interest - Paramount has communicated to Warner Bros. Discovery's board that its offer of $23.50 per share provides superior value to shareholders compared to the company's potential breakup [3][4]. - Warner Bros. Discovery is considering various strategic options, including splitting the company into two entities or selling some assets, with a formal sale process initiated following its June announcement [2][4]. Group 2: Strategic Review and Options - Warner Bros. Discovery is conducting a comprehensive review of strategic alternatives to maximize asset value, with the split expected to be completed by April [4][5]. - The split is viewed as a tax-efficient method for potential sales, allowing for a tax-free transaction [5]. Group 3: Market Interest - Comcast and Netflix have expressed interest in acquiring Warner Bros. Discovery's studio and streaming assets, with Comcast indicating that such an acquisition would complement its NBCUniversal business [6].