Is This the End of Warner Bros Discovery as We Know It? Paramount and Skydance Plot Takeover of Hollywood Giant

Warner Bros. Discovery has announced it is now evaluating acquisition offers from interested parties. The company revealed this Tuesday in an investor note, amid reported interest from Paramount and Skydance.

While WBD remains committed to splitting into two media companies — Warner Bros. and Discovery — by mid-2026, the firm has triggered buyout discussions after receiving 'unsolicited interest from multiple parties.'

This comes shortly after the announcement that HBO Max's subscription prices will increase across all tiers, effective immediately.

Strategic Review Underway Amid Interest

President and CEO David Zaslav stated, 'We have initiated a comprehensive review of strategic alternatives to identify the best path forward.' He added that WBD is making strides to position itself for success in today's evolving media landscape, including scaling HBO Max globally and implementing the price hike.

The company's note also said they are 'evaluating a transaction for the entire company, or separate transactions for its Warner Bros. and/or Discovery global businesses.'

Reported interest from Paramount and Skydance was specifically for the entire Warner Bros. and Discovery conglomerate.

WBD has not set a deadline for this review, emphasising that 'there can be no assurance that this process will result in pursuing a transaction or other outcome.'

WBD's Properties and Recent Sucesses

Warner Bros. Discovery owns major media brands including HBO, CNN, DC, and the Harry Potter franchise. They have achieved significant box office success recently, with Barbie earning over a billion dollars in 2023, alongside hits like Superman, A Minecraft Movie, and Sinners.

HBO Max remains a key player in streaming, home to popular series such as House of the Dragon, The Sopranos, The White Lotus, and Peacemaker.

The company also has a notable presence in the video game industry, with studios including NetherRealm (Mortal Kombat) and Avalanche Software (Hogwarts Legacy).

HBO Max Price Increase and the Outlook for Viewers

WBD has again raised HBO Max's subscription fees across all tiers.

According to Variety, the new monthly prices are now £8.21 for Basic With Ads, £13.81 for Standard, and £17.17 for Premium. Annual subscriptions are £82.16, £138.19, and £171.80 respectively.

The price increase will take effect on the next billing date on or after 20 November. Current annual subscribers will not see the change until renewal, with prior notice.

Notably, HBO Max's Standard plan (£13.81) is now more expensive than Netflix's base price of £13.44 a month.

A Silver Lining: Password Sharing

Despite the price hike, viewers have an alternative: sharing accounts. Zaslav previously told the Goldman Sachs Communacopia and Technology Conference that HBO Max aims to foster viewer loyalty before cracking down on password sharing.

'I think our ability to raise prices as people become more in love with our quality, series, and offering will have a real impact. Across the board, not only are there too many players, but many have also dropped prices aggressively just to stay afloat,' he said.