The report adds that Gunn’s experience with Marvel’s Guardians of the Galaxy franchise played a role. At the same time, Safran’s track record with Aquaman — still DC’s highest-grossing film worldwide — solidified the pair as the top choice. Both executives made enough of an impression that their contracts now extend through spring 2027.

There's a growing fight in Hollywood over some of the biggest characters on screen, like Tony Soprano, Daenerys Targaryen and Harry Potter. All feature in shows and films owned by Warner Brothers Discovery,

The offer to shareholders comes days after Warner Bros. agreed to sell its streaming and studio business to Netflix.

After Netflix announced a deal to buy Warner Bros. Studios, HBO, and HBO Max, David Ellison’s Paramount went directly to shareholders with a bid to buy the entirety of Warner Bros. Discovery. President Trump has indicated he will be involved in reviewing the offers to see if a deal should be allowed to go through.

Netflix has already spent $2.3 million lobbying Washington through the first three quarters of 2025, up from an annual record of $1.9 million last year, disclosures show. The streamer’s roster of outside lobbyists includes Monument Advocacy, Mehlman Consulting and Miller & Chevalier.

Most stocks were falling on Wall Street, but Warner Bros. Discovery jumped to one of the market’s biggest gains.

As Netflix and Paramount engage in a bidding war for parts of Warner Bros. Discovery, NBC News’ Daniel Arkin explains on “Here’s the Scoop” how the sale of the company could signal the “consolidation and contraction in Hollywood.

Warner Bros. Discovery, responding to Paramount Skydance’s unsolicited takeover offer to acquire all of WBD’s outstanding stock for $30/share, said it will review the proposal and issue its decision within 10 business days.