And so it ends…
Today’s WSJ:
Warner Bros. Discovery said it is exploring a potential sale of all or some of its media holdings, setting into motion a deal process that could reshape the entertainment industry.
Paramount recently made a second offer for the company, according to people familiar with the matter. Warner has also received interest in just its studio and streaming assets from multiple parties, people familiar with the company’s thinking said.
“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,” Warner Discovery Chief Executive David Zaslav said in a statement Tuesday morning. The company didn’t disclose what interest it had received
Is this good or bad? A disaster or an opportunity?
That depends on how it turns out and from which direction you’re looking at it. But for now, there’s a lot to unpack here, and indeed, there are a lot of emotions about this, with the news just coming in. So let’s break it down: