Warner Bros. Discovery has officially demanded new and improved bids from its three major suitors — Paramount, Netflix, and Comcast. Since their initial proposals did not meet expectations, WBD now wants “sweetened” offers before moving to the next stage. As a result, the future of HBO, Max, the Warner Bros. studio division, and especially DC Studios now hangs in the balance. Consequently, fans are watching closely to see what comes next, particularly because this major shake-up could significantly reshape the company’s long-term direction.
Warner Bros Wants Stronger Bids After Initial Offers Fall Short
After reviewing all initial offers, WBD quickly requested revised proposals from each bidder. Specifically, the companies asked to return with improved offers include:
- Paramount (Skydance Group)
- Netflix
- Comcast (NBCUniversal)
A deadline has now been set for all updated bids. Once this date passes, WBD will determine whether to enter exclusive negotiations with a single buyer. Moreover, this entire bidding war arrives at a challenging moment for Warner Bros., which continues to manage significant debt while also trying to maximize the value of its extensive media empire.
What Each Bidder Wants from Warner Bros Discovery
Although all three companies aim to control major assets, their specific goals differ in meaningful ways. Therefore, the future of DC Studios could vary dramatically, depending on which bidder ultimately secures the deal. Moreover, the chosen buyer’s strategy and resources will likely shape the direction and output of upcoming DC projects.
What Paramount Wants — The Entire Company
Paramount, backed by the Skydance group, is the only bidder aiming to buy everything. This includes:
- Warner Bros. film and TV studios
- HBO / Max
- Massive content library
- Cable networks
- DC Studios
If Paramount wins, Warner Bros Discovery would be fully absorbed into its ecosystem.
What Comcast Wants — Studios and Streaming Only
Meanwhile, Comcast is primarily focused on the content engine, seeking:
- Warner Bros. studios
- HBO / Max
- Film and TV library
Interestingly, Comcast has no interest in the cable networks, making its offer more selective but still extremely impactful.
What Netflix Wants — Content, IP, and DC Rights
In addition, Netflix is aiming at the entertainment side as well, specifically targeting:
- Studio assets
- HBO content
- Film and TV library
- DC content rights
Netflix, however, has zero interest in cable channels, similar to Comcast.
What Happens to DC Studios Under Each Buyer?
The future of James Gunn and Peter Safran’s DC Universe will ultimately depend on who wins the bidding war. As a result, each potential buyer could take DC Studios down a very different path.
If Paramount Wins
In the event that Paramount successfully buys the entire company:
- DC Studios may undergo restructuring
- Leadership integration with Paramount or Skydance is possible
- DC content output might accelerate to compete more aggressively with Marvel
As a result, this could create a faster, more commercially driven DC pipeline.
If Comcast Wins
In the event that Comcast emerges as the winning bidder:
- DC Studios likely continues with minimal disruption
- Universal’s strong global marketing could significantly boost DC releases
- The DCU roadmap may stay mostly intact
Consequently, this scenario offers the most stability for the Gunn-Safran plan.
If Netflix Wins
In this case, Netflix presents two potential outcomes:
Scenario A: Netflix Buys the Entire Company
- DC becomes Netflix’s flagship global franchise
- A streaming-first release strategy becomes more likely
- DC could expand rapidly into international markets
Scenario B: Netflix Only Buys the Library
- DC Studios remains with whichever entity keeps the core Warner Bros assets
- Streaming rights shift, but leadership stays mostly the same
Given these possibilities, Netflix remains the wild-card option.
What If No Buyer Meets Warner Bros’ Asking Price?
If all revised offers fall short, Warner Bros. Discovery already has a contingency plan in place. In that case, the company is prepared to split into two separate entities:
- Studios + HBO + Max + DC Studios
- Cable Networks
Consequently, in this scenario, DC Studios would continue its current path under James Gunn and Peter Safran, proceeding without any major corporate shake-ups. Furthermore, this stability would allow the creative team to focus on upcoming projects and long-term plans without distraction.
A Small Note on Fan Movements
Amid all the uncertainty, some fans have revived campaigns calling for Zack Snyder’s return to the DC franchise. However, while these movements remain vocal, they currently have no impact on the ongoing sale discussions or the bidding process. Meanwhile, industry analysts continue to focus on the bidders’ strategies and potential outcomes. As a result, the final decision will likely shape the direction of DC Studios for years to come.
The Future of DC Studios Depends on Warner Bros’ Winning Bid
Ultimately, the Paramount–Netflix–Comcast bidding war could reshape Warner Bros. Discovery as we know it. Furthermore, the outcome will significantly influence how DC Studios operates in the years ahead. In the end, whether the DC Universe accelerates, restructures, or remains steady will depend entirely on which company delivers the winning offer — or whether Warner Bros. chooses to remain fully independent.
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