DC Studios, its co-CEO James Gunn, and Warner Bros. overall will reportedly be "hamstrung" in a big way for the next year due to its looming Paramount merger. After a heated bidding war, Warner Bros. Discovery's fate is sealed once again, with the DC Studios parent company expected to sell to Paramount Skydance and CEO David Ellison in an offer valued at roughly $111 billion.
Much of the discussion throughout the sale talks, at least in the pop culture space, has revolved around what it will mean for DC Studios and James Gunn's DCU. The studio has thus far indicated that Warner Bros.' creative leads, including Gunn, will remain in place, but a merger is always a volatile situation, and anything could change in the next year it will take to close the sale.
Throughout the coming year, DC Studios will wrap post-production on June's Supergirl, October's Clayface, and HBO Max's Lanterns. The studio is also gearing up to shoot projects for next year, including Man of Tomorrow, The Batman: Part 2, and, potentially, a Jimmy Olsen-led true crime-style show featuring Gorilla Grodd.
A report from Variety revealed how Warner Bros.' looming acquisition is already affecting operations at the company, likely including DC Studios. That status quo may remain for a while, as the outlet noted that "insiders predict it will take at least a year" for the deal to pass regulatory approval from governments.
That said, a leaked audio recording of Warner Bros. Discovery CEO David Zaslav, reported by Business Insider, stated that obtaining regulatory approval to close the deal in the U.S. and abroad could take "6 to 18 more months." In fact, Zaslav went as far as to the "the deal may not close" at all, at which point WBD would walk away with a $7 billion breakup fee, paid and agreed to by Paramount.
The outlet went on to clarify how Warner Bros.' studios, including DC Studios, will be impacted during that time. It noted how there are fears that the studio will be "hamstrung on dealmaking and big long-term swings" until Paramount takes over once the deal closes, likely in over a year.
Filmmakers have reportedly already been struggling to get answers from the studio's high-ups on the their projects' status amid the sale. Furthermore, in a move that will greatly impact James Gunn's DCU for this changeover period, the studio is said to be "wary of committing too much money to new films" until new owners enter the fray to make their own decisions.
What Warner Bros.' Sale Means for DC Studios In the Short Term
DC Studios has several projects in post-production to be released this year, those being Supergirl, Lanterns, and Clayface. Furthermore, James Gunn's Man of Tomorrow and Matt Reeves' The Batman: Part 2 are in pre-production to shoot in the coming months and hit theaters next year and thus likely safe from these cuts.
It's unclear what live-action movies will hail from DC Studios in 2028, but the studio may be in Paramount's hands by the time those would be shooting in early 2027. There also hasn't been much progress on new live-action TV shows beyond Lanterns, which would need to shoot soon to start filling up the 2027 slate.
These latest budgetary restrictions could prevent Gunn from green lighting any more expensive projects that aren't seen as a safe bet. That could lead to some gap or at least a reduction in live-action DCU content for some time, which would undoubtedly anger fans and DC Studios' management itself, including Gunn.
Even if Paramount is eager to keep the Superman director at the helm of DC, there's always a chance he isn't as on board with the new leadership. Some have predicted that Gunn will choose to exit his position after Man of Tomorrow and the end of his contract in Spring 2027, but that's also speculation for now.
