DC Studios' plans for a V for Vendetta adaptation on HBO Max have reportedly suffered a major setback. DC Studios is much more than just James Gunn's DCU, as the studio is equally going all-in on Elseworlds projects, namely for HBO Max. Variety broke the news in November 2025 that James Gunn and Peter Safran would executive-produce a new V for Vendetta adaptation for HBO Max. The series is the second adaptation of the Alan Moore-written work about a political revolution against a dystopian, fascist regime, after the 2005 modern classic that starred Hugo Weaving and Natalie Portman.
According to The InSneider newsletter, HBO passed on a script for DC Studios' V for Vendetta, written by Pete Jackson. The news comes after the studio's latest blockbuster, Supergirl, opened as a box-office disaster and a critical disappointment, sparking concerns about potential shifts in the DC Studios slate.
Insider Jeff Sneider went on to reveal that Jackson crafted V for Vendetta as a "period piece" while HBO was instead looking for a "modern take" on the DC Vertigo storyline. Originally, V for Vendetta was created as a near-future, dystopian tale set in the U.K., in which a masked vigilante rises up against a fascist regime.
While HBO rejected Jackson's vision for the DC reimagining, Sneider noted that DC Studios may retool its take on V for Vendetta with a new writer attached.
Is DC Studios Abandoning Movies & TV Shows After Supergirl's Box Office Flop?
It's tough to ignore the timing: HBO is passing on V for Vendetta's current iteration just as Supergirl is reportedly expected to cost Bros. over $100 million. However, at least in this case, it seems this take on V for Vendetta simply isn't what HBO was looking for and is unrelated to other goings-on at DC Studios.
That's not to say the Supergirl effect won't lead to changes at DC Studios, namely tightening scripts up even further before launching into production. But there are also bound to be questions about the viability of projects that don't star DC's A-list superheroes and whether they can draw a large enough audience.
DC Studios may hold off on any decisions about other future shows until after Lanterns, which will provide a better indicator of interest in the blue brand on TV. The studio is moving bravely forward with its Jimmy Olsen/Gorilla Grodd mockumentary, but projects like Booster Gold, Waller, and Paradise Lost may be in jeopardy or, at the very least, face an elevated risk of budget cuts.
When it comes to V for Vendetta, the project has a decent chance of being retooled, as it has unique potential to reach an audience beyond the conventional superhero market. However, the Supergirl disaster may put lower-priority Elseworlds projects on the back burner to prioritize the main DCU's health.
On the theatrical front, DC Studios is reportedly next "prioritizing" a Deathstroke and Bane team-up movie, which seems like a strange call given that the studio just suffered a huge flop with a B-list focused flick. There is still a chance that DC Studios rethinks that decision, but for now, the anti-hero crossover is next up.
Having already canceled The Authority this year, the movie that may be most in danger at DC Studios is likely to be Swamp Thing. That said, the monstrous movie is set to be a Gothic horror from Logan director James Mangold, so its fate may hang more on the DCU's imminent first horror movie, Clayface.
