Warner Bros. said it would evaluate strategic options last month after receiving interest in all or part of the business from multiple suitors. The first round of bids are expected today
The Murdoch family, which controls Fox, preferred a deal with Disney because it would rather be paid in Disney than Comcast stock
Company has reportedly agreed to hold Snap's shares for at least a year
It faces new competition from AT&T Inc's proposed $85.4 billion acquisition of Time Warner Inc