Nov 20 (Reuters) - Warner Bros Discovery ( WBD ) has

received preliminary bids for the media company from Paramount

Skydance ( PSKY ), Comcast ( CMCSA ) and Netflix ( NFLX ),

according to a source familiar with the matter.

The bids represent the first step in the possible sale of

all or part of the century-old Hollywood studio, whose

entertainment brands include HBO, CNN and the Warner Bros film

studio.

Warner Bros Discovery ( WBD ) did not immediately respond to Reuters'

request for comment. Comcast ( CMCSA ) and Paramount Skydance ( PSKY ) declined to

comment. Netflix ( NFLX ) could not be reached for comment. The New York

Times first reported the development.

Paramount is expected to bid for all of Warner Bros

Discovery ( WBD ), including its cable television networks. The

company's bid is backed by the studio's controlling shareholder,

billionaire Oracle co-founder Larry Ellison, who is among the

world's richest men.

The potential combination would enhance its presence in movie

theaters, and strengthen its streaming service by combining HBO

Max with Paramount+.

Reuters exclusively reported that Warner Bros Discovery's ( WBD )

board rejected a mostly cash offer of nearly $24 a share for the

company, and publicly announced it would evaluate strategic

options for the studio.

NBCUniversal's corporate parent, Comcast ( CMCSA ), is interested in

Warner Bros' film and television studios and HBO, whose

well-known characters, including Superman and Batman, would

strengthen its theatrical and streaming business and its theme

parks.

Netflix ( NFLX ) is also courting Warner Bros' studio and streaming

businesses, which would give it access to Warner Bros' extensive

film library and established entertainment franchises, such as

Harry Potter and Lord of the Rings.

Warner Bros Discovery ( WBD ) previously announced plans to split the

company into two publicly traded companies, separating its

studios and streaming business from its fading cable networks.