A recently uncovered controversy surrounds Warner Bros and its unreleased film, Coyote vs. Acme. Despite acquiring significant attention from the public and major movie studios, the anticipated animated live-action hybrid remains in limbo. As the studio faces criticism for its decision, questions arise about the film’s fate and the motives behind it.
Coyote vs. Acme came with a hefty price tag, costing Warner Bros a staggering $70 million to produce. However, the studio’s rigid buy price of $70 million proved to be a deterrent for potential buyers. Bid offers from Netflix and Paramount fell significantly short of the asking price, ranging between $30 million and $50 million. Warner Bros’ reluctance to sell the film for less than its production cost led to hesitancy from rival studios, who questioned the film’s profitability.
Amid the film’s uncertain future, Warner Bros reportedly recorded a $70 million writedown on its Q3 earnings, as revealed by Deadline. This adjustment reflects the studio’s acknowledgment of the financial loss incurred from Coyote vs. Acme. While this setback occurred in Q3, not Q4 as initially speculated, it further emphasizes the studio’s apparent lack of confidence in the film’s commercial success.
According to sources close to production, Warner Bros has chosen not to actively promote the film for sale. Despite this, the door remains partially open for potential saviors to salvage Coyote vs. Acme. However, if no suitor emerges, the film may face a similar fate to Batgirl, a project consigned to the studio’s vault. This turn of events leaves industry insiders and fans wondering whether there are any other potential buyers willing to take on the project.
The situation surrounding Warner Bros’ decision has drawn criticism from prominent figures in the film industry. Phil Lord, the director of the wildly successful Lego Movie franchise, expressed his discontent with the studio on Twitter. Lord questioned the integrity of a major movie studio exploiting tax loopholes and avoiding marketplace competition in the pursuit of a merger. The filmmaker’s remarks stirred further debate about Warner Bros’ tactical maneuvers.
Joaquin Castro, a Texas congressman, also voiced his disapproval of Warner Bros’ actions. Castro accused the studio of engaging in predatory and anti-competitive behavior by scrapping completed films for tax writeoffs. He called upon the Department of Justice and the Federal Trade Commission to examine Warner Bros’ conduct as they revise their antitrust guidelines. The congressman likened the studio’s behavior to burning down a building for insurance money, highlighting the potential ethical concerns at play.
While Warner Bros’ CEO, David Zaslav, has denied any personal opposition to Coyote vs. Acme, the controversy has shone a light on internal tensions within the studio. Zaslav’s administration, helmed by CFO Gunnar Wiedenfels, is known for its aggressive cost-cutting measures following AT&T’s ownership. Layoffs have become commonplace under this regime, leading to speculation that the decision to abandon the film may be rooted in financial considerations rather than creative judgment.
Despite the studio’s apparent lack of faith in the film’s commercial prospects, rumors hint at conflicting internal communication. Warner Bros reportedly tested marketing materials and expressed an intention to release the film, further fueling speculation about the true motives behind its sudden abandonment. The South by Southwest (SXSW) festival even expressed interest in featuring Coyote vs. Acme, but Warner Bros opted not to present the film, leaving its ultimate fate undecided.
The controversy surrounding Warner Bros’ decision to keep Coyote vs. Acme from the public eye raises numerous questions about the studio’s motives and its impact on the film industry. As the future of the film remains uncertain, fans and industry insiders eagerly await further developments, hoping for the emergence of a potential savior to bring the entertaining showdown between Coyote and Acme to audiences worldwide.
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