The Sale Sign is Up

Rumors have been floating around for some time and now the news is true.

Warner Bros. Discovery, the parent of CNN, says that it is contemplating a sale.

While the talk has been that Skydance/Paramount wants to buy the company, WBD says that they have received “multiple” expressions of interest from potential buyers.

In a Tuesday morning statement, WBD said its board of directors has started a “review of strategic alternatives,” which could result in a sale of the entire company, a continuation of the current plan to split the company into two, or some other outcome.

It is possible that the company that owns CBS, could also own CNN. Paramount has been making overtures to buy all of WBD in advance of the planned split, signaling that a behind-the-scenes bidding war is underway.

You may remember, decades ago, there were rumblings and CBS and CNN might merge.

Here we are 30-40 years later and it might finally happen.

Stay tuned…