Posted in: Comics, Current News, HBO, Max, Movies, Opinion, TV, TV | Tagged: dc comics, dc studios, opinion, Warner Bros

Welcome to Netflix's DC Studios & DC Comics? Some WBD Speculation

Warner Bros. Discovery confirmed it was considering offers from "multiple parties," making things interesting for DC Studios and DC Comics.

On Tuesday, Warner Bros. Discovery (WBD) officially confirmed what had been rumbled about online and on social media over the past several months. WBD has been approached by "multiple parties" about possibly acquiring WBD as a whole or acquiring Warner Bros. after the company's split is complete. Earlier this year, WBD announced that it would be splitting into two separate companies, Warner Bros. and Discovery Global (more details below). Warner Bros. will serve as the umbrella for film and streaming (like DC Studios), as well as HBO and HBO Max (including international sports offering), DC Comics, Warner Bros. Games, Tours, Retail and Experiences, and studio production facilities.

Heading into the announcement, there were already rumblings that players such as David Ellison's Skydance, Netflix, and Comcast/NBCUniversal were in the running. Rumors are that Skydance extended two offers (one reportedly at $20/share) that were both rejected. Regarding what each is looking for, Skydance and Comcast/NBCUniversal are reportedly eyeing purchasing WBD outright, while Netflix is reportedly eyeing what Warner Bros. has to offer (especially with film and streaming). It should be noted that Netflix has been downplaying any potential interest it might have in WBD. It should also be noted that Netflix has gone the "detached interest" route on other issues it ended up diving into (like livestreaming events and getting into professional sports television/streaming rights bidding).

To be clear, there are a number of possibilities that could come into play over the next six months or so, and WBD made it clear in Tuesday's announcement that there's no guarantee that a deal will get made. First, we would prefer to have WBD remain its own entity because multimedia cannibalism is never a good thing for consumers in the long run. Having one or two companies controlling most of the IPs and nearly all of the access isn't the kind of set-up that intends to inspire uniqueness and creativity. That said, if it has to happen, we're going with Netflix. I know that will get some "red flags" from some of you because of Netflix's position when it comes to releasing films in theaters. Still, I believe that folks have weaponized their nostalgia about the theater-going experience to the point where they've become blind to the fact that going to the movies has become a pricey and annoying effort for many families.

Setting the theater stuff aside, I would love to see how Peter Safran and James Gunn's DC Studios would function under the Netflix banner. In terms of films, we would most likely be looking at what we've been seeing already: a combination of targeted theatrical runs along with a streaming release. I think we would see the same thing with series, though seasons would most likely be broken into "parts" or "volumes" (if Gunn could make weekly drops happen, that would definitely be preferred). On the plus side, Netflix is known to be more creatively protective of the artists who work for them (sometimes to a fault) than a number of other studios/streamers. In addition, the streamer's global reach is substantial and continues to grow. We're talking more than just programming when you consider the number of studios Netflix has established worldwide. On the downside, algorithms… algorithms… algorithms!

Things could get interesting for DC Comics. I can't see Netflix not realizing that we wouldn't have DC Studios if it weren't for the universes created by DC Comics' creators for generations. That said, I could see them looking to reduce the number of titles produced and launch a push for digital/online as opposed to physical copies, two moves that would definitely be met with serious push-back. In addition, I'm just going to put it out there: "DC Studios Comics," a comics universe directly connected to and in canon with DC Studios' DCU. Again, this is all just pure speculation, so please take it with a ten-ton grain of salt. But the vibe out there is that WBD will not be the same company we're seeing today in six months, so it's never too soon to start looking at the options.

Warner Bros. (previously "Streaming & Studios"): Warner Bros. Television, Warner Bros. Motion Picture Group, DC Studios, HBO and HBO Max (including international sports offering), DC Comics, Warner Bros. Games, Tours, Retail and Experiences, and studio production facilities in Burbank and Leavesden. David Zaslav, President and CEO of WBD, will serve as President and CEO. The leadership team will include:

• Pam Abdy, Co-Chair and CEO Warner Bros. Motion Picture Group
• Priya Aiyar, Chief Legal Officer
• Casey Bloys, Chairman and CEO, HBO and HBO Max
• Bruce Campbell, Chief Operating Officer
• Mike De Luca, Co-Chair & CEO, Warner Bros. Motion Picture Group
• Channing Dungey, Chairman & CEO, Warner Bros. TV Group
• Robert Gibbs, Chief Communications & Public Affairs Officer
• James Gunn, Co-Chairman and CEO, DC Studios
• Lori Locke, Chief Accounting Officer (reporting to the Chief Financial Officer)
• JB Perrette, CEO & President of Streaming and Games
• Peter Safran, Co-Chairman and CEO, DC Studios
• Avi Saxena, Chief Technology Officer (reporting to Perrette)

Discovery Global (previously "Global Networks"): Entertainment, sports, and news television brands, including CNN, TNT Sports in the U.S., and Discovery, top free-to-air channels across Europe, and digital products such as the Discovery+ streaming service, CNN's upcoming streaming service, and Bleacher Report (B/R). Gunnar Wiedenfels, CFO of WBD, will serve as President and CEO. The leadership team will include:

• David Duvall, Chief Technology Officer
• Amy Girdwood, Chief People & Culture Officer
• Ryan Gould, President, US Ad Sales GTM (reporting to Zeiler)
• Anil Jhingan, Chief Development Officer
• Kasia Kieli, President and MD, Poland and CEO, TVN
• Fernando Medin, President, International
• Scott Miller, President, Distribution (reporting to Zeiler)
• Fulvia Nicoli, Executive Vice President, Content Strategy & Insights (reporting to Zeiler)
• Brian Rauch, Chief Accounting Officer (reporting to Woodford)
• Luis Silberwasser, Chairman and CEO, TNT Sports
• Mark Thompson, Chairman and CEO, CNN Worldwide
• Sue Underwald, Chief Legal Officer
• Bobby Voltaggio, President, US Ad Sales Platform Monetization (reporting to Zeiler)
• Fraser Woodford, Chief Financial Officer
• Gerhard Zeiler, President, US, UK & Germany, Discovery+ and Chief Content Officer

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