Warner Bros Discovery looks at the possibility of selling a music library

(Reuters) -Warner Bros Discovery Inc may be considering selling its music library, according to the Financial Times, citing sources familiar with the matter. The sale could fetch more than $1 billion.

According to the report, the company is seeking buyers for its music copyrights.

Warner Bros Discovery, which was formed last year by the merger of AT&T Inc’s WarnerMedia unit and Discovery Inc, did not immediately respond to a Reuters request for comment.

WarnerMedia’s music division was sold to investors in the 2000s. However, WarnerMedia retained some copyrights to soundtracks for films such as “The Wizard of Oz”, starring Judy Garland, and “Westworld” from 1973.

Warner Bros Discovery’s plan to acquire Warner Bros Entertainment is the latest revelation from David Zaslav, Warner Bros Discovery’s top boss. Zaslav recently shut down CNN+ streaming and cancelled the movie “Batgirl”.

(Reporting from Yuvraj Malik, Bengaluru; Editing done by Devika Siamnath