Is Sony Eyeing Warner Bros. Discovery's Streaming and Gaming Assets Following Company Split

Credit: Sony/Warner Bros. Discovery

Warner Bros. Discovery recently confirmed plans to split into two separate entities by mid-2026, and that move has already sparked speculation about a potential sale. The upcoming split will see the formation of WBD Global Networks, which will handle traditional cable content like sports and news, and WBD Streaming and Studios, which will house HBO, film and TV production, and Warner Bros. Games.

Shortly after this announcement, a new report from wrestling-focused site SEScoops claims that Sony is considering acquiring the Streaming and Studios arm of the company. While the rumor hasn’t been backed by official sources, it has certainly stirred discussion, especially given the strategic value such a deal could offer.

If this acquisition does materialize, it would give Sony control over a treasure trove of high-profile IPs—including Harry Potter, Game of Thrones, DC, and Mortal Kombat. This could significantly strengthen Sony’s position in the entertainment ecosystem, spanning games, films, and series. However, as analysts have pointed out, this is still early speculation. The split itself won’t be finalized until mid-2026, and any concrete acquisition deal—if pursued—may not be announced until 2027 or beyond.

It’s also worth noting that while SEScoops has a decent reputation in the pro wrestling news space, this sort of media and tech speculation is outside their usual reporting lane. So, while the story is interesting, it’s best approached with caution until more credible outlets or insiders weigh in.

From a gaming perspective, Warner Bros. Discovery has seen mixed results in recent years. While Hogwarts Legacy turned out to be a huge commercial hit, other major releases like Suicide Squad: Kill the Justice League, Gotham Knights, and MultiVersus didn’t meet expectations. In fact, the company had to shut down Monolith Productions, leading to the cancellation of its anticipated Wonder Woman game.

Just a few days ago, on June 18, Warner Bros. Games announced a major internal restructure, organizing its development around four main franchises: Harry Potter, Game of Thrones, Mortal Kombat, and DC. This restructuring also included promoting studio heads into senior vice president roles, indicating a renewed effort to stabilize and focus the gaming division.

Whether a Sony acquisition would turn things around for Warner’s gaming segment is up for debate. Given the size and popularity of these IPs, exclusivity on PlayStation platforms is unlikely. As seen with Bungie’s post-acquisition approach, Sony seems open to multiplatform releases when it makes business sense.

Behind the scenes, financial factors also come into play. According to SEScoops, Sony’s interest reportedly hinges on the separation of streaming and studio assets from Warner’s cable networks—networks that have lost significant ground in the age of cord-cutting. With the bulk of WBD’s $37 billion debt staying with the Global Networks side, the Streaming and Studios spin-off may look much more attractive to potential buyers.

Interestingly, Sony and Warner Bros. Discovery had recently been collaborating on a joint movie studio project in Las Vegas. However, that initiative reportedly fell through in early June after Nevada’s State Senate rejected a proposed tax subsidy, as reported by Variety.

As of now, Warner Bros. Discovery CEO David Zaslav is expected to lead WBD Streaming and Studios once the split is complete.