Warner Bros. on Wednesday exercised its matching rights to buy the film library of RatPac-Dune, a studio spokesperson confirmed to TheWrap.
The deal means Warner Bros. snaps up the library from media and entertainment industry asset management firm Vine Alternative Investments, which had all but locked up a deal worth a rumored $300 million.
The library consists of films co-financed by RatPac when Brett Ratner and James Packer ran the production company. Packer sold his RatPac stake to Len Blavatnik’s Access Entertainment. Ratner is still the company’s CEO and chairman and will stay on after the sale of the company’s film library.
Warner Bros. had a $450 million co-financing deal with RatPac, which was responsible for underwriting much of the studio’s film slate since 2013. Warner Bros. severed its relationship with RatPac and Ratner in 2017 in the wake of sexual misconduct allegations against the “Rush Hour” filmmaker.
Warner Bros. in December signed a multi-picture $100 million co-financing deal with Bron Studios and Creative Wealth Media for several upcoming projects, including Clint Eastwood’s “The Mule,” the Batman villain prequel “Joker” with Joaquin Phoenix, the Ben Affleck-led film “Torrance” (working title) from GavinO’Connor, as well as New Line Cinema’s “Isn’t It Romantic” with Rebel Wilson, “The Kitchen” starring Melissa McCarthy and Tiffany Haddish and “Superintelligence,” also starring McCarthy.
via The Wrap