Warner Premiere to Close Down

The subsidiary of Warner Bros. responsible for the creation and distribution of among other things, adaptations of DC Comics characters for direct-to-video release is reportedly closing down. The Wrap have learned exclusively that due to the current downturn of the home entertainment industry, Warner Bros. has shut down its direct-to-video label Warner Premiere this summer.

"Given the continuing decline in the direct-to-video film market and shifting business models in the production of digital series, the decision was made to close Warner Premiere," the studio said in a statement to TheWrap.

Since 2007, Warner Premiere has released Superman: Doomsday, Justice League: The New Frontier, Batman: Gotham Knight, Wonder Woman, Green Lantern: First Flight, Superman/Batman: Public Enemies, Justice League: Crisis on Two Earths, Batman: Under the Red Hood, Superman/Batman: Apocalypse and most recently Superman vs. The Elite. The site goes on to report that the division will finish production on its remaining film and digital series slate this Fall. This announcement won't effect The Dark Knight Returns: Part 1 but your guess is as good as mine on whether this news affect the release of Part 2.

More details as the story develops.

 

Wait, wait! One other info from IGN.com:
“The division will continue and complete production on its remaining film and digital series project into the fall. In addition, the evaluation of potential digital content will be folded into Warner Bros. Digital Distribution, and Warner Bros. Animation and Warner Home Video will continue to produce and release animated films, such as Scooby Doo, Tom and Jerry and DC Universe.”

It's unclear if the final film project mentioned above was the recently announced sequel to A Christmas Story, arriving on home video in October. The studio will continue to focus their efforts on digital distribution and animated projects, like DC's upcoming release of The Dark Knight Returns: Part 1. The employees of Warner Premiere will be transferred to other departments.

So not that hopeless...