Warner Bros. Discovery has further detailed its plan to break apart or be sold. In a news release today, the media giant that owns the developers of Mortal Kombat, Batman, and Harry Potter games said it has received “unsolicited interest” from multiple parties already to acquire the entirety of the company or just Warner Bros.
These parties were not named outright, but Bloomberg recently reported that Paramount submitted a $20/share bid for WBD, which the company rejected. CNBC reported that Netflix and Comcast might be in the mix, too. Netflix already is invested in the gaming space and continues to ramp up its efforts after some previous setbacks.
WBD said its board will “evaluate a broad range of strategic options” moving forward as it relates to the company’s previously announced plan to sell the entire company or break it up in multiple sales or spin-offs.
CEO David Zaslav said he’s trying to find a buyer or multiple buyers to help “unlock the full value of our assets.” WBD board of directors chair Samuel A. Di Piazza Jr. added, “We continue to believe that our planned separation to create two distinct, leading media companies will create compelling value,” but that it’s important as well to “broaden” the scope of potential transactions to find a deal that pays the company the most possible money for its assets.
WBD did not set a deadline or a timetable for when it will complete this newest strategic review for these “strategic alternatives” to the previously announced separation plan. That plan, meanwhile, is booked to be completed by mid-2026, if it happens at all.
Also today, WBD announced another price hike for HBO Max, and it’s the third in three years. WBD’s stock price is soaring today, up more than 10% so far.
As for WBD’s gaming efforts, the company has said it will focus on core franchises going forward with the highest potential of making money back. Batman: Arkham Knight developer Rocksteady is said to be working on a new single-player Batman game. WB Games Montreal is reportedly pitching a new Game of Thrones title. Avalanche Software is expected to be working on a full sequel to Hogwarts Legacy. The Mortal Kombat series, meanwhile, is expected to continue from developer NetherRealm. As for other DC projects, studio boss James Gunn has said some “really interesting” projects are coming, but not soon.
One we do know about is Lego Batman: Legacy of the Dark Knight, which launches in 2026 from developer Traveller’s Tales. As for the Mortal Kombat series, Mortal Kombat: Legacy Kollection is coming October 30, but it’s published by Atari, not Warner Bros. A project that is not coming to market is Wonder Woman, as WBD canceled the game and closed the studio, Monolith. The company also closed Player First Games and WB San Diego earlier this year.
WBD management said the breakout success of Hogwarts Legacy gives the company the confidence that it can “get back to producing high-quality games built for long-term consumer engagement.” The company said it expects its video game division to return to profitability in 2025 with the games division looking to become a “more significant contributor to growth in the years ahead.”
WB’s longtime gaming boss, David Haddad, announced in January that he is leaving the company but will stay on for the time being to help with the transition process.
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