Warner Bros. Discovery — the home of HBO, CNN and DC Studios — has signaled that it may be open to selling all or parts of its business, just months after announcing plans to split into two companies.

Warner Bros. Discovery is itself a product of a 2022 acquisition, pairing the legendary Warner Bros.’s content library and associated movie and television businesses (including prestige TV streamer HBO Max and cable news channel CNN) with Discovery’s popular reality TV offerings.

Warner Bros. Discovery is reportedly set to ask potential bidders to sign nondisclosure agreements in the near future.

A letter from Paramount’s chief executive, David Ellison, to Warner Bros.’ board of directors reveals weeks of talks between the companies.

A potential acquisition of Warner Bros. Discovery by Paramount could spark antitrust scrutiny, although President Trump’s connection to Larry Ellison might “help smooth the path for a deal,” media analysts told Newsweek.