Legendary Splits from WB

[ThePowerCosmic]

In that case, I wonder if Warcraft will come out in 2015 under Universal.

 

[Octoberist]

The way I see it, if Pacific Rim truly and sadly bombs, they'll need a hit as soon as possible especially with this new deal. While I know Thomas Tull said he wants Duncan Jones to take time with the film but I'm sure he would love a 2015 release. Maybe by Winter 2015.

 

[-JKR-]

Legendary is losing Godzilla because WB bought the rights originally; also if there to e a Pacific Rim sequel, then Legendary would set it up at Universal. Also Universal is keeping whatever Legendary has thats still developing like Warcraft or Crimson Peak.

That's not set in stone. It depends on wether or not there was a clause about Warner Bros. having the rights, or at least first-look options, to work on whatever stuff of a possible Pacific Rim franchise.

 

[Octoberist]

It's all speculation of course! Me no lawyer!

 

[Mr.M]

In that case, I wonder if Warcraft will come out in 2015 under Universal.

I would make that the Fall or holiday 2015 follow up for the LoTR hangover crowd. Then move sequels into a prime December or July slot. It's that kind of property, but it can't be a LoTR knockoff entirely.

 

[Octoberist]

I think Warcraft has a lot of weight and a great director behind it, who values practical effects. I'm looking forward to it.

 

[mclay18]

Looks like Legendary's new pact with Universal isn't off to a great start this year, after the final co-production between them and WB was released (Interstellar) last November. So far, the pics produced entirely under Legendary (and released by Universal) have either underperformed (As Above, So Below) or bombed outright (Blackhat). Now the ones that Legendary has a minor stake in, like Dracula Untold and Unbroken have done okay, but not gangbusters.

I think WB is glad to be rid of them, personally.

 

[mclay18]

I notice since the WB/Legendary split, the newer copies of the movies they made together have removed Legendary as the co-copyright owner. (Not sure whether that applies to Pacific Rim, 42 or Godzilla since they ponied up most of the budgets.) I re-bought The Dark Knight and noticed it right away on the package. But it doesn't end there.

Legendary still gets screen credit too, but they're removed from the copyright on the end credits. So instead of: "© 2008 Warner Bros Entertainment Inc. and Legendary Pictures Funding, LLC", it's simply "© 2008 Warner Bros Entertainment Inc."

 

[redhawk23]

That is super strange. I don't really understand how that works.

 

[mclay18]

That is super strange. I don't really understand how that works.

Well, Disney bought out the cash flows from Silver Screen Partners when their co-financing deal came to a close in the early 1990s. That meant they could remove their name from their films -- and they have. The two co-financed two Disney Renaissance classics The Little Mermaid and Beauty and the Beast, but latter home video releases removed the co-financier from the credits.

 

[mclay18]

'Detective Pikachu' Moves from Universal to Warner Bros.

https://www.hollywoodreporter.com/a...e-pikachu-moves-universal-warner-bros-1129589

The article says this is a precursor to Legendary reuniting with Warners, as the Universal deal expires at the end of the year.

No telling whether Legendary will cherry pick the films they want to co-finance like they did before or whether they'll be a passive partner like Dune Entertainment.

 

[Micromind]

From first post of this thread.

http://variety.com/2013/biz/news/warner-bros-no-longer-in-legendarys-future-1200501572/

While Legendary Entertainment’s Thomas Tull is still talking to multiple studios about a new distribution and potential co-financing deal for its movies, Warner Bros. isn’t among them. Tull is set to end his production company’s eight-year partnership with the studio as their contract comes to an end.

Legendary and Warner Bros. have opted to part ways rather than continue discussions about extending their deal, sources close to both parties confirm to Variety.

The decision now enables Tull to move forward with more serious talks with the three interested studios looking to lure Legendary to their lots: Universal, Sony and Fox.

Wow, look at Fox now and SONY and Universal too.

 

[mclay18]

Legendary is definitely hooking back up with Warners next year, but without Thomas Tull at the wheel.

 

[Loden Greatstorm]

So no seperate Toho universe?

 

[Jonwo]

Legendary is definitely hooking back up with Warners next year, but without Thomas Tull at the wheel.

It does seem Legendary are coming back to WB with their tails between their legs and it's good for WB because they ended their pact with Access Entertainment/Ratpac so they were on the market for Legendary to come back to them. The pact with Universal simply didn't work out for Legendary aside from a handful of films.

I wonder if Red Notice will remain at Universal since it was jointly acquire, I wouldn't be shocked if WB or New Line come onboard as co-producer similar to how Central Intelligence was jointly made by WB/New Line and Universal.

 

[Octoberist]

It makes sense. Better than Ratpac whose deal is dead (along with Ratner’s career thank God.)

 

[Octoberist]

And Legendary’s Universal run has been disappointing and diminished their cred.

It could be a lot of factors: the new Chinese owners, whose sensibilities might may not align with American audiences (the Chinese love their blockbusters... but don’t get Star Wars). Or it’s also Comcast/Universal being dumb (thank God they didn’t get Fox).

 

[Jonwo]

And Legendary’s Universal run has been disappointing and diminished their cred.

It could be a lot of factors: the new Chinese owners, whose sensibilities might may not align with American audiences (the Chinese love their blockbusters... but don’t get Star Wars). Or it’s also Comcast/Universal being dumb (thank God they didn’t get Fox).

Most of the successful films Legendary co-produced at Universal were existing successful IP like Jurassic World or Mamma Mia!

 

[James.B]

Legendary, Warner Bros. Near Distribution Deal
https://variety.com/2018/film/news/legendary-warner-bros-distribution-deal-1202903216/amp/?__twitter_impression=true

Legendary Entertainment will likely leave its distribution and co-financing pact with Universal Studios early, according to multiple insiders. The company behind “Godzilla” and “Kong: Skull Island” is decamping for Warner Bros., its former home. A deal has yet to be signed, but the two entertainment players are in exclusive negotiations and are expected to come to an agreement shortly.

However, the deal will be much different than previous pacts that Legendary has signed, signaling a larger strategic shift that’s taken place at the company following a series of box office flops and the departure of its founder Thomas Tull in 2017. Namely, the Warner Bros. alliance will be a straight output deal, meaning that the studio will release Legendary’s films for a fee. It will not be a slate financing partnership, which was the kind of alliance that Legendary had at Warner Bros. during an eight-year relationship that ended in 2013. Warner Bros. could invest in certain Legendary films and vice versa, but neither company is be obligated to take equity stakes in each other’s films.

Legendary was previously motivated to leave Warner Bros. in part because of bad blood between Tull and former studio chief Jeff Robinov. But both companies have new leadership — Toby Emmerich has taken the reins at Warners and Josh Grode, a former entertainment lawyer, has been in charge at Legendary since early this year. The two men have been hammering out a new deal in recent weeks. The company’s decision to move “Detective Pikachu,” its Pokemon adaptation, to Warner Bros. from Universal was widely reported to be a signal it was eyeing the exit door. Legendary no longer has any movies set up at Universal. It had originally been linked to the Dwayne Johnson and Gal Gadot action-thriller “Red Notice,” but it will no longer back that picture. The company’s deal with Legendary was originally slated to end in December. Legendary does not have rights to future installments in ongoing franchises such as “Jurassic World” that it previously invested in when its deal was in place at Universal.

When Legendary migrated to Universal, it did so with grand ambitions. The companies announced that as part of the deal Legendary’s franchises and intellectual property could be turned into rides at Universal’s theme parks. In return, Universal said it viewed the deal as a chance to collaborate with Legendary on projects in China. Legendary is owned by Chinese conglomerate Dalian Wanda and has long had a presence in the Middle Kingdom through Legendary East, a joint venture film production company based in Hong Kong. The alliance didn’t pay off. Universal came to believe that it would have been better off if it had financed films such as “Jurassic World” without Legendary, because the studio was forced to share the profits on movies that were wildly successful and arrived without a lot of risk attached to them. In turn, many of the films that Legendary produced, such as this summer’s “Skyscraper” and “Crimson Peak,” turned out to be box office misses. “Kong: Skull Island,” a hit for Legendary, was released by Warner Bros.

Warner Bros. and Legendary reunited at this year’s Comic-Con to show footage from “Godzilla: King of the Monsters,” the latest entry in the soon-to-be partners’ monster franchise. In June, Legendary announced it has closed a $1 billion senior secured revolving credit facility led by J.P. Morgan.