“We don’t need the money,” Bewkes remarked at this week’s Allen & Co. conference in Sun Valley, Idaho. Bewkes said Time Warner would pay for WB’s slate if the studio failed to bring on a new financial partner. The studio is in discussions with Bank of America Merrill Lynch and New York-based financial firm Dune Capital for a $550 million co-financing fund, as Variety reported on Tuesday.
Bewkes didn’t provide a timeline for when the deal might close, and declined to comment about why WB needed a partner at all if its parent company could bankroll films itself.
As for Legendary, Bewkes wished WB’s partner of eight years well. On Wednesday, Legendary head Thomas Tull announced he had signed a new multi-year distribution and co-financing pact with NBCUniversal.
“We like to be nice. We just say we had a great partnership together,” said Bewkes. Moments later, Uni topper Ron Meyer walked past the gaggle of reporters gathered around Bewkes.
“I’m glad it’s done,” Meyer said of U’s new deal with Legendary.
As for his plans at Sun Valley, Bewkes seemed more interested in meeting and greeting than dealmaking.
“Everyone is here, (so) you can see everybody and update your information,” he said.