Kevin Tsujihara Breaks Silence on Why Legendary, WB Parted Ways

Kevin Tsujihara Breaks Silence on Why

WB CEO explains that RatPac-Dune Entertainment covered the broader slate it needed to finance

Warner Bros. CEO Kevin Tsujihara opened up about the dissolution of the deal that saw Thomas Tull’s Legendary Pictures finance many of Warner Bros. Pictures’ most successful films at USC School of Law event on Saturday.

While he didn’t delve too deeply into the particulars, Tsujihara made clear that Legendary wasn’t looking to finance as many films as WB was looking to get, which led to the companies parting ways in June.

“We had a great relationship and a great run with Thomas and Legendary,” he told a packed audience at USC’s Institute of Entertainment Law and Business event. “it worked very well for both of us. But it became a situation where our objectives kind of diverged.”

Tsujihara drew a contrast between Legendary’s aims and those of RatPac-Dune Entertainment, the combination of Dune’s Steven Mnuchin, filmmaker Brett Ratner and Australian billionaire James Packer, who closed a $450 million deal earlier this week to fund over 75 movies.

“You kind of want to make sure if you’re going to do it, you want to do it do it on everything, and make sure it’s not a l carte,” said Tsujihara. “From our perspective that was the strategy that made the most sense to us. “

Legendary has since moved onto Universal Pictures, which was planning to spend $275 million annually in U’s films and its own properties within the first two years of the deal and $350 million a year during the next three years.

The WB-Legendary pact dates back to 2005 and provided the funds for several blockbusters including “Inception,” “Man of Steel,” “The Dark Knight Rises,” “The Dark Knight” and the “Hangover” series.

Tsujihara held forth on a range of subjects related to the entertainment industry and WB at the USC event, from the importance of combating copyright infringement to plans to expand film and TV programming derived from DC Comics.

Filed Under:

Want to read more articles like this one? SUBSCRIBE TO VARIETY TODAY.
Post A Comment 3

Leave a Reply


Comments are moderated. They may be edited for clarity and reprinting in whole or in part in Variety publications.

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

  1. Kevin Tsujihara wanting Legendary to support more than a small percentage of Warner projects makes perfect sense for him, while Legendary wanting to put their money behind particular projects is perfectly reasonable for them. Still, I always thought Legendary and Warner were a wonderful couple while they lasted (!), and I wish them both the best on the big screen and the funny pages!

  2. Ronda says:

    The Dark Knight “RETURNS?” Come ON, Variety. Yeesh.

More Film News from Variety