Netflix’s acquisition of Warner Bros. for $82.7 billion has the potential to shake up the entertainment world in countless ways. Its impact will be felt in the worlds of film, television, streaming, movie theaters, and more. But it could potentially have one of its largest impacts on the world of comic books, where there are really just two big companies — and Netflix now controls one of them.
The press release noting the purchase of Warner Bros. calls out several “beloved franchises” controlled by WB that would now become subsidiaries of Netflix. It specifically calls out “the DC Universe” as one of the key things that would “join Netflix’s extensive portfolio.”
In other words: Netfix would now own DC Comics, the nearly century old company that serves as the home to such classic comic book characters as Superman, Batman, Wonder Woman, Aquaman, the Justice League, and the Joker.
Superman 2025
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While that could have a huge effect on DC Comics as a publishing entity, it could have even wider implications for DC fans. Warner Bros. is still in the earliest stages of a new DC Universe overseen by James Gunn and Peter Safran, starting with their recent Superman. Theoretically, nothing could change after the merger — or everything could. Netflix could choose to create another DC Universe, or to continue the one Gunn started without him. They would be in control.
That would also mean they could begin creating content explicitly for Netflix featuring DC Comics characters — although as part of the deal, Netflix is also acquiring HBO and HBO Max as well. In their press release announcing the news, Netflix claims it “expects” to continue Warner Bros. theatrical business. But they didn’t use the word “promise”; expects leaves plenty of wiggle room. Could the entire DC movie universe bypass theaters and go straight to Netflix instead? It’s possible.
None of the answers to these questions will be clear for a long time. The deal, if it is finalized, would take years. Netflix and WB have already said that it would not happen until “ after the previously announced separation of WBD’s Global Networks division, Discovery Global, into a new publicly-traded company, which is now expected to be completed in Q3 2026.” And a lot could change between now and whenever that is. For now, all DC fans can do is wait and wonder.
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Gallery Credit: Matt Singer
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