Warner Bros. Discovery is reviewing “strategic alternatives” in light of “unsolicited interest” it has received from multiple parties for both the entire company and the standalone Warner Bros. streaming and studios entity, the media conglomerate said Tuesday.

WBD didn’t say which companies have made M&A overtures. But the announcement comes after Paramount Skydance, headed by chairman and CEO David Ellison, has been pursuing a major deal to acquire Warner Bros. Discovery in its entirety. In recent weeks, WBD reportedly rejected Paramount Skydance’s $20-per-share offer as too low.

On the Warner Bros. Discovery announcement, the company’s stock jumped more than 8% in early trading to nearly $20 per share.

Warner Bros. Discovery “continues to advance its previously announced separati

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