How DC's James Gunn Feels About The Netflix/Warner Bros. Deal

Hollywood is in a period of transition right now. The entire industry is reckoning with streaming as the one true future, which recently led Netflix to enter into an agreement to buy Warner Bros. While there are much larger implications to come with a deal of that size, it does mean that the DC Universe could be in for some big changes, as the world's largest streaming service could own DC Studios by this time next year, if all goes according to plan. So, how does DC Studios co-head James Gunn feel about the whole thing?

The "Superman" director was recently a guest on Variety's "Awards Chatter" podcast and discussed the deal, which is far from official as it still needs to clear regulatory approval. There's also Paramount's continued attempts to out-do Netflix's bid. In any case, Gunn naturally has thoughts on the matter. "I really don't," Gunn initially replied when asked if he had any hopes for where things land with the Netflix/Warner Bros. deal. The executive and filmmaker then expanded upon his feelings as they stand right now, explaining:

"Everything's unknown. I think it's all really exciting, frankly. So, I hope and pray for the best. I've been through these sort of changes so many times that, you know ... be careful what you wish for because you don't really know until you know. I hope it goes well. Every direction has really exciting things for DC. So, I'm excited about where it's going to go."

Gunn sounds largely optimistic about the whole thing, at least for now. Of note, the contract he and DC Studios co-head Peter Safran have with WB is said to run through 2027, as it stands. What lies beyond that is anyone's guess at this point.

"Superman" was a sizable hit for WB, and the new DC Universe has gotten off to a strong start. The "Supergirl" movie, based on the "Woman of Tomorrow" comic, is due to hit theaters this summer, followed by "Clayface" in September. The "Lanterns" TV show is also slated to premiere on HBO Max sometime this year.

Then we get into 2027, which will see Gunn's "Superman" follow-up "Man of Tomorrow" reach theaters. The long-awaited "The Batman Part II" is similarly due to arrive in October of next year. Beyond that? It gets dicey. By then, Netflix would be firmly in control of Warner Bros., assuming its deal closes. In the meantime, Gunn, Safran, and WB have to operate as though the DCU will move forward as planned. At some point, however, Netflix will come into play.

Little has been revealed in terms of Netflix's plans, but the company would likely keep movies in theaters for much shorter windows before bringing them to streaming. That would be one thing Gunn and Safran would have to reckon with. Speaking to Bloomberg last month, Netflix co-CEO Ted Sarandos hinted that he would like to see DC produce more shows for the streamer, like "The Penguin," in addition to movies:

"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."

Gunn and Safran have grand plans and, as it stands, Netflix seems interested in those plans, so long as they can be retrofitted into a different business model. Gunn's comments suggest he's open to playing ball.

"Supergirl" hits theaters on June 26, 2026.