James Gunn Backs the Warner Bros.–Netflix Deal, Betting on Big Payoff Amid Uncertainty

James Gunn just weighed in on the Netflix + Warner Bros. Discovery chatter, and he sounds... oddly upbeat for a guy who has no idea what is about to happen. Same.

The rumored deal everyone is trying to game out

There has been a fresh round of talk that Netflix could try to acquire Warner Bros. Discovery. Nothing is official, nothing is signed, and there are a thousand ways this could get complicated (corporate integration, DC rights, theatrical vs. streaming strategy, you name it). If you lead DC Studios, like Gunn and Peter Safran do under Warner Bros. Pictures, you probably get asked what this means for the DCU every five minutes.

Short version: it is a big hypothetical with a lot of unknowns, and it would take months, more likely years, to sort out even if it did move forward.

Gunn's take: cautious, but into the possibilities

On Variety's Awards Circuit podcast, Gunn said he is not making predictions about any potential Netflix/WBD deal. He has been through corporate shake-ups before, he knows how messy they get, and he is not pretending to know the outcome. Still, he likes the potential lanes for DC no matter which way this goes.

'Do I have hopes? No. I really don’t, because everything is unknown. I think it’s all really exciting, frankly... Always be careful what you wish for because you don’t really know until you know. And I hope it goes well... every direction has really exciting things for DC, so I’m excited about where it’s going to go.'

Where the DCU is right now

Context helps here. The DCU under Gunn and Safran already has a plan in motion, and the near-term slate is pretty clear. If a Netflix/WBD deal ever happened, that plan would be the first thing fans wonder about.

• December 2024: 'Creature Commandos' opened the DCU era (animated).
• 2025: 'Superman' (Gunn's film) and 'Peacemaker' Season 2 kept the train rolling.
• Later this year: 'Supergirl', 'Lanterns', and 'Clayface' are currently slated to arrive.
• 2027: The 'Superman' follow-up, titled 'Man of Tomorrow', is dated.
• In development (no dates yet): 'The Brave and the Bold' from Andy Muschietti, among other announced DCU projects.

So what actually changes if this happens?

Too early to call. Even if Netflix and WBD got serious, the ripple effects would be huge and slow-moving. Things like licensing, windows, and how DC projects are financed and distributed would all be up for rethinking. For now, the DCU appears to be proceeding as planned, and Gunn sounds more energized than anxious about the possibilities. That tracks with his whole 'build the thing in front of you' approach.

If you are keeping score at home: big rumors, no deal yet, lots of dots to connect. Gunn is not promising outcomes, but he is not rattled either. The man has a slate to run.

(Gunn's comments were made on Variety's Awards Circuit podcast; this angle was first flagged by Brandon Schreur at SuperHeroHype.)