Warner Bros. Discovery is exploring a potential sale, causing a 10% increase in share price. The company previously announced plans to split into two entities, attracting interest from Paramount Skydance. CEO David Zaslav stated they are reviewing options to unlock full asset value. Netflix and Comcast are reportedly among interested parties.

After rejecting bids from Paramount, Warner Bros. Discovery is considering strategic alternatives. Netflix is interested in preventing a low-price sale to another buyer. Comcast is exploring the possibility of pursuing WBD. Acquiring WBD’s assets post-split is beneficial for tax purposes.

Since the 2022 merger, Warner Bros. Discovery faces financial challenges with over $40 billion in debt. The company has focused on cost cutting and profitable franchises like “Harry Potter” and “Game of Thrones” spinoffs. Despite progress in debt reduction, investor skepticism remains due to the shift to streaming and cable networks.

Read more at CNBC: Warner Bros. Discovery says it’s open to a sale; shares jump 10%