Warner Bros Discovery has opened the door to a sale after receiving “unsolicited interest” from multiple parties, and its board has launched a strategic review that explicitly keeps the company’s planned split into two firms on the table as it evaluates options. The review covers both a potential sale of the whole company and bids for the Warner Bros (Streaming and Studios) business specifically. But who could realistically buy WBD—and more to the point, does anyone actually want the liabilities and complexity that come with it? Any bidder would inherit not just a vast content catalog and marquee franchises, but also a heavy balance sheet, with WBD’s gross debt at roughly $35 billion. The most immediate practical choice for buyers…