If Universal were to acquire anything from the Warner Bros. portfolio, “it would be the streaming properties and the studio properties because there are no other park properties there.” explain Mike Cavanagh, president (and future co-CEO, effective 2026) of Universal parent company Comcast, during the company's quarterly earnings call on October 30, 2025.
Universal has frequently partnered with Warner Bros. to create The Wizarding World of Harry Potter attractions at theme parks around the world, including most recently Epic Universe Ministry of Magicwhich opened in May. Universal Studios also hosts Scooby-Doo and Beetlejuice character meet-and-greets in its parks, both WB properties. However, these represent licensing partnerships; Universal does not own any of these franchises.
October 21, Warner Bros. Announce The company is currently reviewing potential sale options (in addition to the previously announced split of Warner Bros. Discovery into two separate companies). Warner Bros.' announcement did not mention Universal Pictures, nor any specific buyer.
“You should expect us to look at transactional things in the areas surrounding our industry,” Kavanagh said. “Our job is to try to figure out ways to add value.” (We've transcribed Kavanagh's full remarks at the bottom of this article.)
Warner Bros. licenses its names and characters to various theme parks around the world but does not own any park outright. These include Warner Bros. Movie World in Australia (owned by Village Roadshow Theme Park) and Warner Bros. World Abu Dhabi (owned by Miral, of which Miral is a partner) Disney to open theme park in Abu Dhabi) in the United Arab Emirates.
These licensing partnerships are provided by Warner Bros. Explore Global Experienceswhich also operates WB Studios tourist attractions in Hollywood, London and Tokyo.
Additionally, Warner Bros. licenses its Looney Tunes and DC Comics franchises to Six Flags but does not hold an ownership stake in the Six Flags parks themselves.
