Warner Bros. Discovery is exploring a sale or major restructuring amid interest from major media companies.

Warner Bros. Discovery is exploring a potential sale or major restructuring after receiving unsolicited interest from multiple parties, including Paramount Skydance, Netflix, and Comcast. The company, which owns HBO, CNN, and the "Harry Potter" franchise, had previously planned to split into two entities by mid-2026 but is now evaluating other options to maximize shareholder value. CEO David Zaslav confirmed the review is underway, though no decisions have been made. The announcement, which sent shares up nearly 11%, reflects growing market interest in WBD’s valuable media assets amid shifting viewer habits and intense streaming competition.