As of today, Warner Bros. Studios continues to own and operate the Looney Tunes franchise!

Rumors continue to grow amongst reporters. Here are some recent articles:

https://www.yahoo.com/entertainment/report-wb-looking-sell-looney-171700789.html

https://www.comingsoon.net/tv/news/1941502-looney-tunes-warner-brothers-sell-brand-coyote-vs-acme

https://gamerant.com/rumor-warner-bros-poised-abandon-looney-tunes/