Looks Like James Gunn’s DC Role is Safe if Paramount Buys Warner Bros.

DC Studios appears likely to remain in steady hands if Paramount succeeds in buying Warner Bros. Paramount’s chief executive, David Ellison, has stated he intends to keep James Gunn and Peter Safran as co-CEOs of DC Studios.

According to Bloomberg, Ellison, who controls Paramount and founded Skydance Media, wants to maintain the creative teams at both Paramount and Warner Bros. following the merger. Skydance completed its merger with Paramount in August. If the deal is approved, divisions under Warner Bros. Discovery, including Warner Bros. Pictures, HBO, CNN, DC Studios, TNT Sports, and Cartoon Network, are expected to continue operating. However, marketing and distribution functions could be combined across both companies to cut costs and streamline operations.

DC Studios and Warner Bros. share a long history. After years of uneven box office results, Warner Bros. invited former Marvel director James Gunn and longtime producer Peter Safran to lead DC Studios in 2022. Their role was to rebuild the on-screen brand and reorganize the company’s film and television strategy.

On the streaming front, Ellison reportedly aims to combine HBO Max with Paramount Plus, forming a single service that could compete more directly with Netflix and Disney Plus. He has no immediate plan to sell the cable networks owned by either company. Ellison, whose producing credits include Top Gun: Maverick, also wants to expand film production to about thirty movies each year. He has expressed interest in using artificial intelligence and other technologies to speed up production and reduce costs.

Warner Bros. Discovery confirmed in October 2025 that it was exploring a sale after months of financial pressure. Paramount-Skydance emerged as an early potential buyer. Bloomberg reported that Paramount made three offers in recent weeks, but Warner Bros. rejected them all. Now that Warner Bros. is officially on the market, Ellison’s team believes a deal could pass both company approval and regulatory review by the U.S. government.