Similar to when Disney bought Fox, if Paramount bought Warner Discovery, Hollywood would basically implode from franchise overload. Imagine Harry Potter and The Godfather sitting under one logo, while The Last of Us streams next to Top Gun. David Ellison’s got his billionaire dad, Larry Ellison, backing him, but David Zaslav isn’t folding just yet. He’s convinced splitting Warner Discovery into two companies—one for HBO Max and Warner Bros., another for CNN and TNT—is the smarter play. “Our planned separation will create compelling value,” said board chair Samuel Di Piazza Jr. In other words, they’re not selling Hogwarts to Paramount without a considerably large paycheck. But exactly what will Paramount be buying from Warner Discovery? Here is a list of Warner Bros’ most valuable properties.
DC Studios
While the DCU is still in its early stages, James Gunn is well on his way to building a superhero empire with the brand. As Co-CEO, he’s got nearly every DC hero under his cape, from Superman to The Flash. With Superman (2025) kicking off the new DCU and The Batman Part II on deck, Warner Bros. might’ve finally found its superhero-sized moneymaker.
The Wizarding World
Still one of Warner Bros.’ biggest money-makers, the Harry Potter franchise continues to expand with theme parks, merchandise, films and TV shows. If Paramount took over, they’d also inherit Hogwarts Legacy’s billion-dollar success and a streaming series set in the wizarding universe.
MonsterVerse
The home of Godzilla x Kong, this cinematic universe proves audiences never tire of giant creatures smashing landmarks. With multiple sequels and spin-offs planned, including more seasons of the Monarch: Legacy of Monsters series, the franchise continues to grow.
Looney Tunes
Bugs Bunny and the gang have been entertaining audiences for over 80 years, hopping from cartoons to movies and everything in between. Their endless merchandising power makes them as valuable to Warner Bros. as Mickey Mouse is to Disney.
Dune
With Denis Villeneuve’s Dune: Part Two turning sci-fi epics into box-office gold, this franchise has sand-blasted its way into pop culture again. A TV prequel also expands the universe.
Mad Max
George Miller’s Furiosa reminded everyone why Mad Max is still a gas-fueled spectacle decades after its 1979 debut. Few franchises mix high-octane chaos with social commentary this well. Paramount would be lucky to own it.
Mortal Kombat
From arcade cabinets to big-screen fatalities, Mortal Kombat remains one of the most profitable fighting franchises ever. A sequel to the 2021 movie reboot is expected in 2026.
Scooby-Doo!
Since 1969, Mystery Inc. has unmasked villains, sold snacks, and made talking dogs mainstream. With countless movies and TV reboots, Scooby-Doo! is one of Warner’s most dependable family properties.
The Lord of the Rings
Middle-earth continues to print money with new film projects announced by Warner Bros. and New Line Cinema. If Paramount snagged this, they’d control one of the most recognizable fantasy brands ever.
The Conjuring Universe
The Conjuring series remains the gold standard for supernatural horror. From Annabelle to The Nun, Warner’s haunted collection would instantly strengthen Paramount’s horror lineup.
The Flintstones
Bedrock’s favorite family still holds nostalgic power decades after their TV debut in 1960. From cereal boxes to live-action remakes, The Flintstones are a merchandising goldmine.
The LEGO Movies
The Lego Movie franchise turned plastic bricks into pop-culture icons. A new reboot is reportedly in development.
Ben 10
A Cartoon Network staple since 2005, Ben 10 remains a superhero hit with kids thanks to its toys and spin-off series.
Nightmare on Elm Street
Freddy Krueger is due for a comeback, and Warner owns the rights to his nightmares.
The Matrix
Even after Resurrections, The Matrix remains one of sci-fi’s most influential franchises. A sequel is in the works, too.
A Minecraft Movie
A Minecraft Movie surprised everyone in 2025, becoming one of the year’s biggest hits after pulling in $957.8 million at the box office. More movies are on the way.
It
Stephen King’s killer clown turned two films into a $1 billion juggernaut. A prequel series titled Welcome to Derry arrives this month.
Creed
Creed proved the Rocky franchise still packs a punch without Stallone. Michael B. Jordan’s directorial debut turned it into a modern sports saga built for the next generation.
And so much more
Warner also owns a bunch of other popular franchises like The Last of Us, Blade Runner, Lethal Weapon, Beetlejuice, Ace Ventura, Pokémon, Happy Feet, Final Destination, and Barbie.
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