A direct sale is being considered by Warner Bros. Discovery due to interest from possible purchasers

In what would be the most recent upheaval in the traditional media industry, Warner Bros. Discovery stated Tuesday that it is contemplating an outright sale following interest from multiple possible bidders.

Morning trading saw a 10.5% increase in the company’s shares. Following prior claims that David Ellison, the CEO of Paramount Skydance, was reportedly in talks to purchase the combined company, CNBC reported Tuesday that Netflix and Comcast are among the possible buyers, citing sources.

In order to distinguish its expanding streaming business from its slower-growing traditional cable division, Warner Bros. Discovery, the company behind CNN, HBO Max, and the «Harry Potter» property, announced in June that it will spin off its Warner Bros. and Discovery Global divisions the following year.

A sale or spin-off would be one of the most significant restructuring moments in the media industry, potentially prompting other traditional media companies to review their own structures.

Streaming has radically transformed the media industry, leaving traditional broadcasters with mounting debt, larger content budgets, and a fragmented audience.

“This latest development could open up new conversations with stakeholders. For Hollywood and other traditional media giants, all roads lead to consolidation,” said Paolo Pescatore, an analyst at PP Foresight.