Reuters says Universal is now hiring a bank to explore a bid.
You’re Gonna Carry That Weight.What would become of Warner Bros. Feature Animation under either Paramount or Comcast? Comcast already has both Illumination and Dream Works, while Paramount has Nickelodeon Movies, but would either of them have room for Warner Bros' animated film studio, or would this be another Disney/Blue Sky situation?
Under Comcast it might be dissolved or absorbed since they both own Illumination and Dreamworks simulteanously. Fitting in a third animation studio might create creative overlap since they might be too similar in style, writing, etc. There might also be brand dilution since WBFA doesn't have a distinct tone or style unlike Illumination and Dreamworks. The true winner here is Paramount since their animation arm is beating a dead horse. Seriously, pair them with WBFA and they'll be batting a thousand in the box office.

Also from Deadline, Zazlav says the studio has an “active process” for the split and sale.
https://deadline.com/2025/11/warner-bros-discovery-ceo-david-zaslav-active-sale-process-1236609236/
You’re Gonna Carry That Weight.