Paramount Skydance is exploring bringing on a strategic partner for MTV as it looks to reinvent the cable brand for a digital future, according to Bloomberg. The outlet reports that the media giant has hired financial advisors to identify a strategic partner that would invest money in the network and offer additional assistance,

Paramount Skydance just said Warner Bros. Discovery's TV assets are worth nothing, even though it wants to buy them.

The media company said it remains committed to the $82.7 billion deal it reached in December to sell its streaming service, studio and HBO cable channel to Netflix.

Some investors are beginning to worry that the same industry pressures leading to Versant’s trading woes will plague the value of the Netflix bid.

Paramount’s offer “represents the best path forward” for Warner Bros. shareholders, Paramount said in a statement on Thursday. The company has “cured every issue raised” by Warner Bros., most notably by providing an irrevocable personal guarantee by billionaire Larry Ellison for the equity portion of the financing,