First off, the source here is solid. Caleb Williams, editor-in-chief of Knight Edge Media, has the track record to back up whatever intel he publishes.
That said, there have been a lot of rumblings about what the underperformance of "Supergirl" means for James Gunn and Peter Safran's DCU. The film only grossed $127M worldwide against a $186M budget. That's probably $100M+ in losses.
Now here's Williams, reporting that "Wonder Woman," which seemingly has Adria Arjona playing the character — a source working on 'Man of Tomorrow' told me a few months ago that she was spotted on set in costume — has been put on the "backburner." Not "cancelled," but just "paused."
Williams' sources tell him the reason "Wonder Woman" has been delayed is "Supergirl," another female-led DCU movie. Parallels have obviously been drawn between the two projects, and there is now doubt about how profitable a "Wonder Woman" movie — which wouldn't come cheap — could actually be.
I should also note that the writer of "Wonder Woman," Ana Nogueira, also wrote "Supergirl." Maybe they are looking for a new writer now? "Supergirl" was Nogueira's first screenwriting credit, and she is mostly known as a playwright and as the writer of 13 episodes of "The Michael J. Fox Show" and "Hightown."
So whatever plans there were for "Wonder Woman" to go into pre-production, with a 2027 shoot in mind, have been scrapped. Gunn and Safran will be taking their time with this one, possibly waiting to see how 'Man of Tomorrow,' their "Superman" sequel, does next year.
Who Arjona is playing in 'Man of Tomorrow' has been a well-kept secret. Deadline claimed it was Maxima, but that might have just been misdirection. THR and The Wrap pushed back on that rumor, saying it's "unknown." I'm fairly certain it's Wonder Woman.
In the meantime, DC Studios has "Clayface" coming out in October and 'Man of Tomorrow' in June 2027. Nothing else seems to be headed imminently into production. "Wonder Woman" was supposed to be next, but it now seems to be stuck in a game of wait-and-see.
Whatever plans there were for "Wonder Woman" to go into pre-production, with a 2027 shoot in mind, have been scrapped. Gunn and Safran will be taking their time with this project.