Warner Bros. signs $100-million co-financing deal with Bron Creative for movies, including ‘Joker’
Warner Bros. has signed a deal for film financier Bron Creative to invest $100 million in a handful of the Burbank studio’s films, including its upcoming project based on a DC Comics villain, “Joker.”
Bron Creative, a joint venture set up by Canadian companies Bron Studios and Creative Wealth Media, will invest in six movies as part of the deal with AT&T-owned Warner Bros., the firms said Tuesday.
The films include Clint Eastwood’s “The Mule,” a drug-running drama that opened with a solid $17 million in ticket sales in the U.S. and Canada last weekend. The Rebel Wilson rom-com “Isn’t It Romantic,” the mob drama “The Kitchen” and the Melissa McCarthy comedy “Superintelligence” are also included, as is a drama starring Ben Affleck with the working title “Torrance.”
Warner Bros.’ “Joker,” starring Joaquin Phoenix, started filming in September.
Studios agree to co-financing deals with other companies in order to reduce the financial risk of their movies. Financiers relieve some of the studio’s pain if a movie flops, while profiting if a film does well.
Until recently, it was common for studios to sign broad-based deals with financial partners to invest in the bulk of their movies for a certain number of years.
Recently, though, smaller deals have become more common as studios look to keep the profits from their most reliable franchises. Earlier this month, Sony Pictures struck an agreement for Mimran Schur Pictures to invest in upcoming films “Holmes & Watson” and “Bloodshot.”
Earlier this year Warner Bros. decided not to renew its $450-million slate financing deal with Brett Ratner’s RatPac-Dune Entertainment after the director was accused of sexual assault and other misconduct.
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