Legendary And Warner Bros. Officially Part Ways
Man of Steel co-financier Legendary Pictures has decided to part ways with longtime partner Warner Bros. studios as WB is reportedly seeking to take a more active role in the development and financing of their DC Comics adaptations.
The latest new from Variety tonight is pretty somber for DC Comics fans as Legendary Pictures and Warner Bros. are reportedly set to part ways. Legendary is currently deciding whether to partner with NBC or Fox as it looks to venture into television and develop adaptations of its own comic book properties. It is thought that Legendary will make a decision by the Fourth of July weekend.
The report from Variety also mentions that Warner Bros. is looking to take a more hands on approach with its DC Comics adaptations. Specifically, WB's new goal under newly appointed CEO Kevin Tsujihara will be to produce its superhero films out of its own pocket, with no co-financier and become the sole benefactor of any box office success. An interesting statistic to take away from the article is that Legendary backed 50% of the production costs and therefore shared 50% of the profits on Christopher Nolan's Batman trilogy and the recent Man of Steel. In that regard, it's not difficult to see why WB would make this move as they own one of the biggest comic book publishers in the world which brings with it some of the most iconic superheroes of all time. However, WB's recent venture into superhero theatrics without Legendary, Green Lantern, didn't exactly fare too well, which has more than a few DC Comics fans nervous about letting Legendary slip away. But Tsujihara is apparently not afraid to make waves as the film division of the revered movie studio has recently undergone significant restructuring in the wake of Jeff Robinov's departure/force out. Now comes the news that it is losing a key asset like Legendary which has financed upwards of 75% of the production cost on some of WB's biggest blockbusters.
What this move means for Man of Steel 2 and future DC Comics adaptations at this point is anyone's guess. Without Legendary sharing the cost will WB be willing to take a chance on some lesser known characters and provide the full budget to do those films justice? And how much of the studios' film budget will be allocated to spandex and capes so that fans get more than one DC superhero film per year?
A somewhat alarming revelation from the report is that the Guillermo del Toro "giant mecha vs kaiju" blockbuster, Pacific Rim is currently not tracking very well. In fact, early surveys shows that the general audience is more interested in Grown Ups 2 which opens that same weekend. If the film bombs, Legendary will take the brunt of the blow as the studio actually financed 75% of the production cost for del Toro's giant robot monster flick.
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