02:21 PM EST, 11/05/2025 (MT Newswires) -- Warner Bros. Discovery ( WBD ) , which is exploring strategic options, including a possible sale, plans to publicly outline its decision by mid- to late December, CNBC reported Wednesday, citing people familiar with the matter.

The company, led by Chief Executive David Zaslav, is weighing broad range of options, including planned separation into two businesses, or sell the entire company, according to a statement issued on Oct. 21.

Paramount Skydance ( PSKY ) has sent multiple letters to Warner Bros. Discovery's ( WBD ) board arguing that its $23.50-per-share offer "delivers superior value" than breaking up the company, CNBC said, adding that it has reviewed copies of two of the letters.

Warner Bros. Discovery ( WBD ) began a formal review of its options after announcing in June that it would separate into two publicly traded companies, with one focused on studios and streaming and another on networks.

Paramount Skydance ( PSKY ) and Warner Bros. Discovery ( WBD ) didn't immediately reply to MT Newswires' requests for comments.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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