Warner Bros. Discovery has launched a formal auction of the media giant, with bankers at JPMorgan and Allen & Co. combing through expressions of interest from multiple suitors – including one from Paramount Skydance, The Post has learned.

The owner of the Warner Bros. studio, HBO and CNN held a board meeting Thursday morning with bankers and advisers to discuss the process, sources said. Prospective bidders have been sent non-disclosure agreements required to access WBD’s financials.

Of particular interest to WBD is the question of how to deal with the most aggressive of the bidders – Paramount Skydance, the newly created media giant headed by CEO David Ellison, according to people with direct knowledge of the matter.

Warner Bros. Discovery CEO David Zaslav has launched a formal auction

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