James Gunn can apparently breathe a sigh of relief.
As Warner Bros. Discovery navigates a potential sale to Paramount Skydance, new reporting suggests the DC Studios co-CEO and architect of the rebooted DC Universe will keep his position if the blockbuster merger goes through.
According to Bloomberg, David Ellison—CEO and controlling shareholder of Paramount—plans to keep the creative teams of both studios intact while consolidating backend operations like marketing and distribution. While Gunn isn’t mentioned specifically in the report, fans are assuming his role is secure given he’s considered a core part of Warner Bros. Discovery’s creative leadership. Gunn has yet to respond to the report on social media.
The Bigger Picture: Reshaping Hollywood’s Landscape
Last week, Warner Bros. Discovery officially confirmed it was considering buyout offers amid reported interest from Paramount Skydance. The potential merger would create a media behemoth combining Warner Bros. Pictures, HBO, CNN, DC Studios, TNT Sports, Cartoon Network, and Paramount’s considerable assets under one corporate umbrella.
Bloomberg reports that Paramount has made three unsolicited offers for Warner Bros. over the past month, all rejected. However, now that Warner Bros. has officially announced it’s exploring strategic alternatives—including a potential sale—Paramount is confident a deal could win regulatory approval from both the company and the U.S. government.
If successful, the merger would fundamentally reshape Hollywood’s power structure, consolidating two historic studios with deep film and television libraries, multiple streaming platforms, sports networks, and some of entertainment’s most valuable intellectual property.
Streaming Wars: HBO Max and Paramount+ to Merge?
One of the most intriguing elements of Ellison’s reported plan involves streaming. Should the merger proceed, Ellison plans to combine Warner Bros.’ HBO Max with Paramount+, creating a single streaming platform with a significantly expanded film and TV library.
This consolidation makes strategic sense. The streaming wars have proven expensive and unsustainable for many players, with companies spending billions on content while struggling to achieve profitability. Merging HBO Max (home to prestige HBO programming, DC content, Warner Bros. films, and more) with Paramount+ (which houses Star Trek, Taylor Sheridan’s universe, Nickelodeon content, and Paramount Pictures releases) would create a genuinely competitive platform to rival Netflix and Disney+.
The combined subscriber base would also provide immediate scale, reducing customer acquisition costs and potentially justifying price increases that neither platform could command independently.
AI, Increased Production, and Theatrical Commitment
Bloomberg also reports that Ellison aims to leverage emerging technologies, including AI, to dramatically ramp up production—targeting 30 films annually across the combined entities. This represents a significant increase from current output and suggests Ellison sees opportunity where others see risk.
The AI element will likely prove controversial. Hollywood’s creative community has expressed significant concerns about artificial intelligence’s role in entertainment, with writers and actors striking in 2023 partly over AI protections. How Ellison plans to deploy AI without alienating talent remains unclear, though it may involve streamlining pre-production, visual effects work, or other technical aspects rather than replacing human creativity.
Interestingly, despite this embrace of technology, Ellison reportedly believes in theatrical releases as the best way to build long-term franchises—a stance that should reassure filmmakers and theater owners concerned about streaming’s dominance. As the producer behind Top Gun: Maverick, one of the most successful theatrical releases in recent years, Ellison has firsthand experience with the power of the big-screen experience.
What This Means for DC Studios
For DC Studios specifically, the news appears positive. Gunn and co-CEO Peter Safran were brought on in 2022 to revitalize DC’s on-screen presence after years of inconsistent critical and commercial performance. Their ambitious plan for a rebooted DC Universe—distinct from Zack Snyder’s previous vision—is just beginning to unfold.
Superman, directed by Gunn himself, launches the new DCU in July 2026 after positive reception for the trailer. Peacemaker Season 2 continued building this fledgling universe, with Supergirl: Woman of Tomorrow and Clayface set to launch next year. A Lanterns TV show is in development for HBO Max, with other projects in various stages of planning.
Gunn is currently writing the script for 2027’s Man of Tomorrow, the follow-up to Superman. In a recent appearance on the BobaTalks YouTube channel, Gunn confirmed that plot developments in Superman and Peacemaker extend “significantly further” beyond Man of Tomorrow, before adding a telling caveat: “whether or not that’ll be me that’s able to fulfill that promise depends on a lot of things in life.”
That comment, made before Bloomberg’s reporting about Ellison’s plans, likely reflected uncertainty about his future given the potential merger. If Ellison does indeed plan to keep creative teams intact, Gunn should be able to see his vision through—barring unforeseen circumstances.
No Darkseid, New Directions
Whatever the future holds for Gunn and the DCU, he’s made clear his universe won’t follow predictable paths. In a joint interview with YouTube channels focused on superhero franchise Easter eggs, Gunn ruled out building toward Darkseid as the DCU’s “big bad.”
His reasoning is twofold: Director Zack Snyder had intended—and briefly featured—Darkseid as the DCEU’s overarching enemy, making a return feel redundant. Additionally, Darkseid’s similarity to Marvel’s Thanos would invite unflattering comparisons. Gunn’s DCU is looking elsewhere for its ultimate threats, distinguishing itself from both the previous DC iteration and Marvel’s playbook.
This decision reflects Gunn’s larger philosophy for the DCU: honor what came before while charting distinctly new territory, avoiding the temptation to simply recreate Marvel’s formula with DC characters.
The Consolidation Continues
The potential Warner Bros. Discovery-Paramount merger represents the latest chapter in Hollywood’s ongoing consolidation. Disney absorbed 21st Century Fox. Amazon acquired MGM. Warner Bros. merged with Discovery. Now Paramount and Warner Bros. may unite.
These mega-mergers reshape the entertainment landscape, concentrating power among fewer players while promising efficiencies and scale. The question is whether consolidation genuinely serves audiences—through better content and more competitive pricing—or primarily benefits shareholders and executives through cost-cutting and reduced competition.
For creatives like Gunn, the hope is that scale provides resources and stability to execute ambitious visions. The fear is that corporate priorities override creative ones, that franchise management supersedes artistry, and that risk-aversion becomes the default mode.
What Happens Next
The Warner Bros. Discovery sale process is ongoing, with no timeline announced for a decision. Regulatory approval would take additional time if a deal is reached. Paramount faces competition from other potential buyers, though it appears to be the frontrunner given Ellison’s aggressive pursuit and reported confidence about regulatory clearance.
For James Gunn, the waiting game continues. But if Bloomberg’s reporting is accurate, the architect of the new DC Universe can focus on building his ambitious vision rather than worrying about pink slips.
And for DC fans? The prospect of Gunn completing his planned story—with corporate backing from a merged entertainment giant combining Warner Bros., DC, HBO, Paramount Pictures, and more—suggests the DCU may finally have the stability and resources to compete with Marvel on equal footing.
Whether that manifests in genuinely great storytelling or merely corporate synergy remains to be seen. But at least Gunn should get his chance to find out.
The man who gave us Guardians of the Galaxy and The Suicide Squad isn’t done yet. And if Ellison’s plans hold, he’s just getting started with DC.
