James Gunn and Peter Safran Locked in as DC Studios CEOs After Netflix-Warner Bros. Discovery Merger

The dust is still settling from Netflix’s acquisition of Warner Bros. Discovery, but one big question hovering over the deal has finally been answered. James Gunnand Peter Safran are staying put. The creative architects behind DC Studios will continue leading the DCU as co-CEOs, even as the company prepares to operate under Netflix’s massive corporate umbrella.

Speculation around DC Studios’ future has been a big topic of conversation for fans. Corporate mergers usually come with leadership shakeups, and many assumed DC wouldn’t be immune.

That uncertainty only grew in October when Gunn, who also directed Superman, appeared to allude to a possible exit. Then there have been a ton of rumors about Gunn leaving and being replaced by Zack Snyder, which is ridiculous.

Netflix and Warner Bros. Discovery jointly confirmed that Gunn and Safran will remain in charge of DC Studios. The confirmation came via the newly launched NetflixWBtogether.com, which outlines how the two companies plan to function post-merger. In a section focused on workforce stability, they directly addressed leadership continuity:

"Netflix and Warner Bros. have complementary businesses, which is why we plan to continue operating them independently—with the teams that currently run them. We'll also keep growing our long-term investment in original films and series and expanding U.S. production capacity.

“Over the last four years, we've contributed over $125 billion to the U.S. economy and hired more than 140,000 cast and crew members, filming across all 50 states. With Warner Bros., we'll be able to do even more."

That statement makes it clear the intent isn’t to rip out existing leadership, but to let each division keep doing business as normal. For DC Studios, that means Gunn and Safran remain the guiding force behind the interconnected universe they’ve been carefully rebuilding.

Additional reassurance came from a Bloomberg profile, which revealed that the duo’s contracts have been extended from late 2026 into spring 2027. That extension suggests Netflix is committed to their long-term vision and wants stability as DC continues rolling out new films and series.

From a business perspective, DC’s value was a major draw for Netflix. Despite years of uneven box office results, the brand remains one of the most recognizable intellectual properties in entertainment. Bank of America analyst Jessica Reif Ehrlich highlighted why this acquisition matters so much for Netflix in comments shared via The Hollywood Reporter:

"For Netflix, this transaction marks a strategic shift from building its own content to acquiring large-scale IP and studio assets. While Netflix remains the clear leader in global streaming subscribers, the company has not had the luxury of deep, legacy content libraries and has historically been forced to license content from traditional media companies."

She also pointed directly to DC’s upside, suggesting the franchise could become a serious competitor to Marvel under Netflix’s global reach:

"The DC franchise, supercharged by Netflix's global distribution, could challenge Marvel's market-leading position. More broadly, if Netflix consolidates premium IP, competition for consumer time and attention would increase, potentially pressuring engagement trends on DIS' platforms."

While Gunn and Safran staying on is great news for fans and filmmakers, it doesn’t automatically mean everything at DC Studios will remain exactly the same.

Large-scale mergers almost always come with internal restructuring, and shifts in development strategy or executive oversight are still possible once regulatory approval is finalized. The leadership may be locked in, but the operational dynamics could still evolve.

For now, though, DC Studios has its creative compass intact. The next chapter of the DCU continues with Supergirl, which is currently slated to hit theaters on June 26, 2026.