The entertainment world is buzzing as Warner Bros. Discovery (WBD) explores strategic options following multiple buyout offers. Reports suggest that CEO David Zaslav is aiming for a Warner Bros. $100 billion valuation, a figure that could make it one of the largest media deals in history.
According to recent reports from Reuters, WBD has received interest from several major bidders, including Paramount Global, but Zaslav rejected preliminary offers around $60 billion, calling them “too low.” The CEO is instead pushing for a much higher price — one that values Warner Bros. Discovery at up to $100 billion, including debt.
Why David Zaslav Believes Warner Bros. Deserves $100 Billion
1. Premium Media Assets and Global Reach
Warner Bros. Discovery owns some of the most valuable intellectual property in entertainment — from HBO, CNN, and DC Studios to Discovery Channel and Warner Bros. Pictures. Analysts say these franchises alone could command billions if spun off or sold separately.
Zaslav believes that the market undervalues the combined power of these assets, arguing that the company’s global streaming platform and film library justify a premium.
2. Streaming Strategy and Brand Strength
The company’s Max streaming service, which merges HBO Max and Discovery+, has seen steady subscriber growth. While rivals like Disney+ and Netflix face slowdowns, Max’s content diversity and strong franchises (like Game of Thrones and Harry Potter) are a major selling point.
By repositioning Max as a global premium streaming brand, Zaslav hopes to prove that WBD can command valuations on par with the biggest players in the streaming space.
3. Strategic Split to Unlock Value
Industry insiders say Zaslav is considering a split of Warner Bros. Discovery into two entities — a “Streaming & Studios” arm and a “Networks & Sports” division. This could allow the company to separate its fast-growing digital business from its traditional TV networks, making each part more attractive to investors.
A successful split could justify the Warner Bros. $100 billion valuation Zaslav is reportedly seeking.
Offers Rejected: Why Zaslav Said No
Sources cited by Business Insider say WBD has already turned down multiple offers in the $60–70 billion range, including one from Paramount Global. Zaslav reportedly believes these bids undervalue the company’s true potential, especially when future streaming profits and brand strength are factored in.
The CEO’s firm stance suggests he is either waiting for a bidding war or confident that WBD’s value will rise after its restructuring.
Challenges to Achieving a $100 Billion Valuation
While Zaslav’s ambition is clear, achieving a Warner Bros. $100 billion valuation won’t be easy.
- Debt Load: The company carries about $40 billion in debt, a major obstacle to potential buyers.
- Declining Cable Revenue: Legacy TV networks are losing subscribers, reducing overall profitability.
- Market Conditions: Global media valuations have declined amid streaming competition and tighter ad spending.
Analysts warn that buyers will heavily discount WBD’s linear TV and news assets, meaning the company’s enterprise value could fall short of the CEO’s goal.
Who Might Buy Warner Bros. Discovery?
Potential suitors include:
- Paramount Global: Seen as a front-runner but may face regulatory and financial hurdles.
- Comcast (NBCUniversal): Could seek synergies between NBCUniversal and HBO Max content libraries.
- Private Equity Funds: Large firms like Apollo or Blackstone might explore a leveraged buyout if financing terms are favorable.
- Tech Giants: Although speculative, companies like Amazon or Apple could show interest in Warner Bros.’ vast entertainment catalog.
However, any deal approaching $100 billion would face significant antitrust scrutiny and financing challenges.
Industry Implications
A sale near that valuation could reshape the global media industry, combining massive content libraries and distribution networks. It would also set a new benchmark for media valuations at a time when traditional studios are struggling to adapt to streaming-first models.
For the broader industry, Zaslav’s strategy signals a belief that premium IP and diversified platforms can still command top-tier valuations — even in a challenging media landscape.
Conclusion
David Zaslav’s reported goal of a Warner Bros. $100 billion valuation reflects both ambition and confidence in the company’s global content portfolio. Whether or not such a high price is realistic, his bold approach is already reshaping discussions across Hollywood and Wall Street.
If WBD succeeds in attracting a top-tier bidder or completing its strategic split, it could become one of the most valuable entertainment deals of the decade.
