×
You will be redirected back to your article in seconds

Warner Bros. Wins Bidding War for ‘Paddington 2’

Warner Bros. Pictures is taking over U.S. distribution on “Paddington 2” from the troubled Weinstein Company and will keep the planned Jan. 12 release date for the family comedy.

Paddington 2” opened solidly in the U.K. last weekend with $10.9 million, 60% above its predecessor. It’s fully financed by Studiocanal and produced by David Heyman. Warner bought distribution rights for the film in the U.S. and Canada from Studiocanal and TWC/Dimension Film for an undisclosed price.

The sequel stars Hugh Grant, Brendan Gleeson, Hugh Bonneville, Sally Hawkins, Julie Walters, Jim Broadbent, Peter Capaldi, Madeleine Harris, and Samuel Joslin. Ben Whishaw is the voice of Paddington, who is searching for the perfect present for his beloved Aunt Lucy’s hundredth birthday.

The original “Paddington” over-performed in 2015 with $76 million domestically and $191 million overseas.

Variety reported exclusively on Nov. 13 that TWC was trying to find a buyer for “Paddington 2” before the indie film studio files for bankruptcy protection. TWC’s  board of directors and leadership had been negotiating with Vine Investment Advisors and Fortress Investment Group about a possible $20 million to $35 million bridge loan that would enable the company to meet its payroll obligations.

The company is known to have retained FTI Consulting, a financial advisory firm that’s well-versed in corporate restructuring. Insiders say the Weinstein Co. is saddled with as much as $500 million in debt and obligations. The company’s fiscal crisis has been exacerbated by the extraordinary wave of sexual assault allegations leveled against co-founder and former co-chairman Harvey Weinstein.

More Film

  • 'The Apollo' Review: A Legendary Theater

    Tribeca Film Review: 'The Apollo'

    You should never take for granted a documentary that fills in the basics with flair and feeling. Especially when the basics consist of great big gobs of some of the most revolutionary and exhilarating popular art ever created in this country. Roger Ross Williams’ documentary “The Apollo,” which kicked off the Tribeca Film Festival on [...]

  • Playwright Mark Medoff author of "Children

    Mark Medoff, 'Children of a Lesser God' Playwright, Dies at 79

    Mark Medoff, the playwright who wrote Tony Award-winning play “Children of a Lesser God,” died Tuesday in Las Cruces, N.M. He was 79. His daughter Jessica Medoff Bunchman posted news of his death on Facebook, and the Las Cruces Sun-News attributed the cause to cancer. “Children of a Lesser God” starred John Rubinstein and Phyllis Frelich [...]

  • Editorial use only. No book cover

    Interscope Films Relaunches With Full Slate at Tribeca (EXCLUSIVE)

    The Interscope record label’s interest in film/music crossover isn’t exactly a secret: With hit companion albums for “A Star Is Born,” “Black Panther” and “La La Land,” they’ve seemed to own the soundtrack space at times in recent years. And the company hasn’t completely made a secret of its desire to move into film production. [...]

  • Avengers: Endgame

    'Avengers: Endgame': Fans and Theaters Assemble for Biggest Marvel Movie Ever

    For San Diego resident Shawn Richter, “Avengers: Endgame” is more than the conclusion to a monumental period in the Marvel Cinematic Universe. As the West Coast branch chair of Avengers Initiative, a cosplay charity that raises money for causes like the Ronald McDonald House Children’s Charities, the comics of Stan Lee and Jack Kirby are [...]

  • Jillian Bell appears in Brittany Runs

    Amazon's 'Brittany Runs a Marathon' Sets Summer Release

    “Brittany Runs a Marathon” will be rushing to theaters on Aug. 23. Amazon Studios dated the comedy on Wednesday. The pic, starring Jillian Bell (“Rough Night,” “22 Jump Street”), won the audience award at the Sundance Film Festival. The flick follows the titutal Brittany, who decides to run around New York City in order to [...]

  • Lionsgate Hires Lynn Whitney in Marketing

    Lionsgate Hires Former Warner Bros. Exec Lynn Whitney

    Lionsgate announced Wednesday that Lynn Whitney will become head of worldwide paid media, partnerships, promotions and consumer products. Whitney was formerly the executive VP of worldwide media at Warner Bros.   In her new role, Whitney will build out media campaigns for movies like Seth Rogen and Charlize Theron’s romantic comedy “Long Shot.” “I am [...]

  • El silencio de otros

    Film Review: 'The Silence of Others'

    “Forgiven but not forgotten” is a platitude we routinely use to end disputes both petty and grievous, but it’s the reverse outcome — the mass forgetting of crimes and conflicts never truly resolved — that itches away at a post-Franco Spain in “The Silence of Others.” Soberly chronicling the ongoing legal battle of General Franco’s [...]

More From Our Brands

Access exclusive content