Warner Bros. Discovery says it is for sale, given buyer interest

David Zaslav said in a statement announcing the strategic review.

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PARAMOUNT wants to acquire all of Warner Bros. Discovery, including its stable of basic cable channels.

"After receiving interest from multiple parties, we have initiated a comprehensive review of strategic alternatives to identify the best path forward to unlock the full value of our assets," he said.

The company last summer unveiled its intention to split into two separate publicly traded entities — an arrangement that most observers saw as the unofficial kickoff of the company’s sale.

That separation process will continue, Warner Bros. Discovery said Tuesday.

The company intended to create two standalone entities. One would include the Warner Bros. studio and its expansive library of shows and movies, as well as the HBO Max streaming service. Zaslav was planning to run that enterprise.

The second company, Discovery Global, would comprise the basic cable channels and international operations. Chief Financial Officer Gunnar Wiedenfels would lead that operation.