Warner Bros Discovery is exploring a sale of its music library that could be valued at more than $1bn, according to people familiar with the matter, the latest move by chief executive David Zaslav to reduce debt at the sprawling Hollywood empire.
Since taking control after combining WarnerMedia with his Discovery last year, Zaslav’s team has been scouring the entertainment group — which spans HBO, the Warner Bros movie studio and CNN — to find places to cut into its $50bn in debt.
The Warner Bros movie studio created a music division in the 1950s. In 2004 parent company Time Warner sold the music division, but the group retained its copyrights to a trove of songs, such as the soundtracks to the Batman films.
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