The Warner Bros water tower in Burbank, California has attracted interest from Paramount Skydance, Comcast, and Netflix. Paramount made an initial bid in September, prompting Warner Bros. Discovery to explore a sale process. The company’s assets include DC superheroes, Harry Potter, Game of Thrones, and cable networks like CNN and TNT. Second-round bids have been received, with Netflix currently leading.

Comcast is interested in Warner Bros. Discovery’s intellectual property to boost NBCUniversal’s Peacock streaming service. The acquisition would add popular franchises and expand theme park offerings. With a focus on films and television content, Comcast aims to enhance its current roster and compete with industry giants like Disney.

Netflix’s bid for Warner Bros. Discovery includes streaming and studio assets only. The streaming giant aims to leverage WBD’s content library to bolster its offerings. Concerns exist over how Netflix would handle theatrical releases traditionally associated with WBD. Despite initial skepticism, Netflix remains a competitive bidder in the acquisition process.

Paramount is merging with Skydance and has made a bid for Warner Bros. Discovery’s full assets. The acquisition would enhance Paramount’s franchise offerings, including Star Trek and SpongeBob SquarePants. With a goal to release at least 15 theatrical films in 2026, the addition of WBD’s slate would help Paramount achieve its targets.

Read more at CNBC: What Paramount, Comcast, Netflix could do with the assets