Warner Bros. Discovery (WBD) is currently being eyed by several potential buyers. The company has started a formal sales process after receiving "unsolicited interest" from several parties.

In particular, Comcast is looking at acquiring streaming and studio assets. Mike Cavanagh, designated Co-CEO of Comcast, emphasises that the company sets high standards for M&A transactions while already creating significant value through organic growth, such as Peacock's association with NBC, the NBA partnership, the collaboration with Taylor Sheridan and the new Epic Universe theme park.

Netflix is also exploring possible takeovers in the streaming and studio area of WBD. The streaming service has commissioned the investment bank Moelis & Co to analyse the options. However, Netflix makes it clear that traditional linear television and media networks are not part of its strategy.

WBD's strategic review process is creating an increasingly dynamic competitive environment in which both traditional media groups and streaming providers are weighing up their options.