Speculation surrounds the future of DC Studios' upcoming projects, including Supergirl, Clayface, and Lanterns, as Netflix and Warner Bros. Discovery negotiate a deal. Despite the deal's far-from-finalized status, Netflix's strategy to operate Warner Bros. independently with existing teams hints at potential continuity for DC Studios. Challenges include competition from Paramount Skydance and regulatory approvals.
DC Studios co-CEOs James Gunn and Peter Safran's DCU has a pretty big 2026 on the way, with films Supergirl and Clayface, and HBO/HBO Max series Lanterns, on the way. And yet, it's tough to discuss what DC Studios has in store without at least acknowledging the developments behind the scenes – namely, Netflix and Warner Bros.
Discovery seeking to finalize a deal that would see the streamer acquire WBD's studios and streaming service. To be clear, even though both sides are all-in, the deal is far from done. David Ellison's Paramount Skydance recently offered a hostile bid that was rejected by WBD's board, while the theater industry has been running under the assumption that Netflix is looking to kill the theatrical experience. And then there's the matter of getting federal approval for the deal, which could take anywhere from 12-18 months. Image: Shutterstock.com/Fred Duval; Netflix Netflix recently went on offense, creating a website to lay out its bid for WBD and address any questions and/or concerns folks might have . Regarding how the streamer will handle the Warner Bros. side of things, Netflix posted that it plans to operate Netflix and Warner Bros. as independent but 'complementary businesses,' and they're looking to keep 'the teams that currently run them' in place. 'Netflix and Warner Bros. have complementary businesses, which is why we plan to continue operating them independently — with the teams that currently run them. We'll also keep growing our long-term investment in original films and series and expanding U.S. production capacity. Over the last four years, we've contributed over $125 billion to the U.S. economy and hired more than 140,000 cast and crew members, filming across all 50 states. With Warner Bros., we'll be able to do even more,' reads a section of the website. Image: Netflix Image: Netflix Image: Netflix 'The work of James and Peter, their creative vision, it's compelling and a great economic return,' Warner Bros. Discovery CEO David Zaslav shared with Businessweek earlier this month, as the deal with Netflix was being finalized. 'There's no storytelling content that we have that provides a bigger palette than DC, and there's nobody around right now who can tell these stories with the same imagination and excitement.' As Zaslav sees it, that level of storytelling can and should be brought to fans in a variety of ways. 'The DC universe is big enough and strong enough that it should be available on all platforms. There are some stories that are important to be told in theaters around the world, and some stories that are important to be told as series,' he added. That sentiment isn't lost on Netflix co-CEO Ted Sarandos, who highlighted what DC Studios has been accomplishing beyond the big screen during a conference call with investors regarding the deal earlier this week. 'You should think about ways that you can explore all these IP universes beyond that of just making tentpole movies. Examples would be some of the earlier moves from the DC universe for things like 'Penguin' has turned into great television.' For Gunn and Safran, whose contracts reportedly run through Spring 2027, the focus will always be on the work. 'What makes us irreplaceable is truly the mind of James Gunn. He's been the architect of this grand vision,' Safran shared about his DC Studios partner. Gunn added, 'If you're gonna make a Batman movie, it better be f***ing awesome.'
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