Warner Bros. Bondholders Offer to Sell Back $30 Billion of Debt

Bondholders sought to sell more than $30 billion of notes back to Warner Bros. Discovery Inc., well above the amount of debt the company said it would repurchase, according to a statement on Tuesday, as the media giant prepares to overhaul its liabilities and split in two.

The media giant has so far refrained from agreeing to boost its buyback offer, and investors interviewed on Tuesday said it’s increasingly unlikely that it will do so. The company said earlier in June it was buying back notes with a market value of as much as $14.6 billion, then indicated that ...