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If Paramount Skydance successfully acquires Warner Bros. Discovery, DC Studios appears to be in safe hands. Paramount’s CEO and controlling shareholder, David Ellison, reportedly intends to retain the creative teams of both studios, including DC Studios co-CEOs James Gunn and Peter Safran, should the massive merger go through.

According to Bloomberg, Ellison, who also founded Skydance Media (which merged with Paramount in August), wants to keep Warner Bros. Discovery’s core divisions intact. This includes Warner Bros. Pictures, HBO, CNN, DC Studios, TNT Sports, and Cartoon Network, among others. While creative units will remain independent, marketing and distribution operations are expected to be consolidated under the new structure.

The news comes amid heightened speculation about the future of DC Studios and its creative leadership. Some fans feared that Gunn, who helped reboot the DC Universe (DCU) after being hired alongside Safran in 2022, might step down if the merger proceeded. However, Ellison’s reported strategy suggests that Gunn’s position is secure, even though neither he nor Ellison has commented publicly on the matter.

Gunn is currently developing ‘Man of Tomorrow’ (Superman 2), slated for 2027, following the DCU’s kickoff with ‘Superman,’ which premiered in July 2025. Other projects, including ‘Peacemaker’ Season 2, ‘Supergirl,’ ‘Clayface,’ and the ‘Lanterns’ TV series for HBO Max, are also in various stages of production.

As for streaming, Ellison reportedly plans to merge HBO Max and Paramount+ into a single, unified platform boasting a vastly expanded film and TV library. The executive also aims to boost annual film output to around 30 titles across the combined companies, leveraging emerging technologies and artificial intelligence to streamline production. Despite the shift toward digital, Ellison remains a firm believer in theatrical releases as the best foundation for building long-term franchises.

Talks of a potential sale began in early October 2025, when Warner Bros. Discovery confirmed it was considering buyout offers. Paramount Skydance quickly emerged as a top contender, having already made three unsolicited bids over the past month — all rejected at the time. Now that Warner Bros. is officially entertaining offers, Paramount is confident that its proposal can secure both corporate and regulatory approval in the U.S.

Should the merger proceed, Ellison’s strategy suggests a clear vision: preserve the creative strength of both studios while streamlining operations to compete in an evolving entertainment landscape — and, crucially, keep James Gunn and Peter Safran steering the future of DC Studios.

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