Alcon Entertainment has extended its long-term financing and distribution agreement with Warner Bros through 2015.

The current pact between the two companies expires in 2013 and the renewal calls for Alcon to finance and produce three features per year for the studio to distribute either on a worldwide basis or solely in North America, at Alcon’s discretion.

Andrew Kosove and Broderick Johnson’s Alcon maintains full greenlight authority and will continue to develop, fully finance, produce, and ultimately assume all p&a expenses for its slate, which in the past has included The Blind Side, The Book Of Eli and recent release Something Borrowed.

As part of the extension, Alcon has the option to develop, finance, and produce a slate of more modestly budgeted features not necessarily intended for distribution by Warner Bros, who will retain their first right of refusal.