Skydance flags $200M Q4 hit as Warner film slate slips
The company also said James Gunn and Peter Safran are leaving DC Studios, with Jeremy Latcham named as their replacement.
Skydance said on its Q3 earnings call on November 9, 2026, that continued underperformance of the Warner Bros. film slate will cost its fourth-quarter adjusted EBITDA about $200 million. The company also announced that James Gunn and Peter Safran are departing as heads of DC Studios.
CFO Dennis Cinelli said the $200 million Q4 headwind includes films already released in the quarter as well as titles still to come. Co-CEO David Ellison said the Warner Bros. slate underperformed this year and will weigh on the quarter's results.
Jeremy Latcham was named to replace Gunn and Safran at DC Studios. The leadership change was disclosed alongside the financial update on the call.
Co-CEO Ynon Kreiz said the Warner Bros Discovery team managed its business well through the close, pointing to softness in the movie studio. Ellison also cited New Line's 2027 Christmas release Lord of the Rings: The Hunt for Gollum as a compelling theatrical offering.
Skydance said it still expects $6 billion in synergies from the merger, according to deadline.com. The Skydance-Warner Bros. merger closed five weeks before the publication of the report.
Quick answers
Who is replacing James Gunn and Peter Safran at DC Studios?
Jeremy Latcham was named to replace them as heads of DC Studios.
How much will the Warner Bros. film slate cost Skydance in Q4?
Skydance said its Q4 adjusted EBITDA will take a $200 million hit, including films already released and films still to be released.