The Warner Bros hierarchy has filled the financing void left by the departure of Legendary Entertainment.
The new deal calls for the parties to co-finance up to 75 upcoming studio films, starting with this week’s release of Alfonso Cuaron’s Gravity and the December 25 release of boxing comedy Grudge Match.
RatPac-Dune Entertainment is a film finance vehicle formed by OneWest Bank Group and Dune Capital Management chairman, CEO and founder Steven Mnuchin and RatPac Entertainment.
Brett Ratner formed RatPac Entertainment with Australian resort and entertainment billionaire and Crown Limited chairman James Packer, son of the late media mogul and World Series Cricket founder Kerry Packer.
“We are very pleased to be entering into this relationship with RatPac-Dune Entertainment,” said Warner Bros CEO Kevin Tsujihara. “This agreement gives us increased strength and flexibility in the motion picture division and an even greater ability to manage risk as we continue to produce high-quality filmed entertainment for the global audience. We look forward to working with their team as we move forward in this exciting new partnership with a truly great organisation.”
“Warner Bros Pictures has an incredible track record of success with the most valuable franchise properties, the best relationships in the creative community and an extremely talented executive team,” said Mnuchin.
“We’re excited to be partnering with the company on its film slate and look forward to a long and mutually beneficial relationship,” said Ratner and Packer.
In July Legendary Entertainment announced it had set up shop at Universal Pictures following a lengthy tenure at Warner Bros.