Sun Valley: Jeff Bewkes Insists He’s Not Concerned about Financing at WB

SUN VALLEY – Warner Bros. may not yet have a new financial partner to replace Legendary, but Time Warner chief Jeff Bewkes said he isn’t worried.

“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.

More Biz

  • Harvey WeinsteinHarvey Weinstein court hearing, New

    D.A. Tells Harvey Weinstein Jury: 'He Was a Rapist'

    A prosecutor told jurors on Wednesday that Harvey Weinstein wielded his immense power in Hollywood to rape vulnerable young women and then to keep them silent. Assistant District Attorney Meghan Hast gave jurors a vivid recounting of multiple sexual assaults, including the story of Jessica Mann, a witness who has not previously been identified. She [...]

  • Ryan Tracey

    CAA Hires TV Agent Ryan Tracey (EXCLUSIVE)

    Creative Artists Agency (CAA) has hired Ryan Tracey as an agent in the television department, Variety has learned exclusively. Tracey comes to CAA from UTA, where he had most recently served as head of TV Production. He has represented an numerous television producers during his career, including Aida Rodgers, Kathy Ciric, Anna Dokoza, Ellen Kuras, Mark Winemaker, [...]

  • Neil Portnow Grammys

    Ex-Grammy Chief Neil Portnow Responds to Rape Allegations

    The most explosive of many allegations in ousted Recording Academy Deborah Dugan’s complaint against the organization Tuesday was a claim that her predecessor, Neil Portnow, had been accused of raping a “foreign” singer who was a member of the Academy, and that Academy executives were aware of it at the time of Dugan’s hiring. On [...]

  • Why the Oscars, Emmys Shouldn't Try

    Grammy Awards Nominating Is Marred by Insider Deals, Ousted CEO’s Complaint Alleges

    Amid the multiple claims in former Recording Academy boss Deborah Dugan’s blockbuster complaint against the organization is a section that is deeply critical of the Grammy Awards nominating processes and essentially accuses it of insider dealing and corruption. Its allegations, if true, suggest worst-case scenarios, many involving the Board of Trustees that ultimately controls the [...]

More From Our Brands

Access exclusive content