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It looks like DC Studios will be safe if Paramount does end up buying Warner Bros., as the Paramount boss says he'll keep James Gunn and Peter Safran on as DC's co-CEOs.
If the merger goes through, Paramount's CEO and controlling shareholder, David Ellison, wants to keep the creative teams of both Paramount and Warner Bros and all it owns, including DC Studios, as reported by Bloomberg. Ellison is the founder of Skydance Media, which merged with Paramount in August.
That means companies under Warner Bros. Discovery, such as Warner Bros. Pictures, HBO, CNN, DC Studios, TNT Sports, Cartoon Network, and more, will stay intact. However, it is said that other factors, such as marketing and distribution, will be consolidated.
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DC Studios and Warner Bros. have been linked for many decades due to once being owned by the same parent company. But after the comic book company saw a lull in on-screen success, Warner Bros. decided to bring on past Marvel director Gunn and his longtime collaborator Peter Safran on as co-heads in 2022.
In terms of streaming, Ellison reportedly plans to merge Warner Bros.’ streaming service HBO Max with Paramount Plus. There are no current plans to sell cable networks owned by either business. Ellison, who has produced films such as Top Gun: Maverick, has large plans for the big screen too. Ellison is targeting 30 films a year for the combined businesses and plans to take advantage of new technologies, like AI, to produce more content.
It was announced earlier in October 2025 that US media conglomerate Warner Bros. Discovery was considering selling up shop, and Paramount Skydance was linked as interested in the acquisition very early on. However, Bloomberg reports that Paramount has made three unsolicited offers for Warner Bros. over the past month, all of which have been rejected.
But now that Warner Bros. has announced that it is up for sale, Paramount is confident the deal with Warner Bros. could win regulatory approval from both the company and the US government
I'm the Junior Social Media Editor here at GamesRadar+, handling all of Total Film's social platforms. However, I also write, covering all things film and TV for the site's entertainment section. I joined GamesRadar+ in 2023 and have been here ever since. I previously worked in communications after graduating with an MA in journalism. In my spare time, you can find me binging horror movies or getting lost in a cosy little game on my Switch.
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