The entertainment industry is about to undergo a major shakeup. Warner Bros. Discovery announced on Tuesday that it is up for sale.
Born from the merger between WarnerMedia and Discovery, Inc., the company is divided into seven business units, including the brand’s film and television studios and the video game subsidiary Warner Bros. Games. It includes studios such as Rocksteady (Batman Arkham), Avalanche Software (Hogwarts Legacy), TT Games (LEGO games), and NetherRealm Studios (Mortal Kombat).
The entire Warner Bros. Discovery group is expected to be acquired in the coming weeks. The company has stated that it wants to “explore strategic alternatives to maximize shareholder value”, which is the jargon used to formalize a sale. The company’s stock jumped about 10% following the announcement.
Potential buyers such as Netflix and Comcast are among those interested. Paramount Skydance is also in talks to acquire the group.
