Warner Bros. Motion Picture Group has entered into a new co-financing pact with Domain Capital, a multi-year arrangement that will focus on bolstering the studio’s theatrical slate.
Last year, the Atlanta-based Domain announced a $700 million fund dedicated to entertainment and media. The co-financing arrangement is already in effect at Warner Bros, kicking off with participation in the company’s record-breaking hit “Barbie,” which has earned over $1.4 billion at the global box office.
The deal will extend to other WB releases this year, including “Aquaman and the Lost Kingdom,” Timothée Chalamet’s “Wonka” and the Oprah Winfrey-produced movie musical “The Color Purple.”
Motion picture group co-CEOs and co-chairs Mike De Luca and Pamela Abdy said they were “pleased to have this co-financing agreement with Domain Capital in place given their deep knowledge of the entertainment space, and as we continue to build on the studio’s 100-year commitment to theatrical releases.”
Domain recently partnered with Sony Music Publishing to acquire the existing and future song rights of multi-award-winning songwriter Ashley Gorley, who has penned hits for artists including Jon Bon Jovi, Luke Walton and Carrie Underwood.
“We are honored to be working with a world-class studio partner in Warner Bros. and excited to participate in furthering their long track record of creating premium theatrical content,” added Pete Chiappetta, Domain’s managing director of media, entertainment and technology. “We believe this long-term relationship, and the ultimate library that it creates, will further our investment strategy.”
Paul Neinstein, via Project X Entertainment, acted as an advisor on the deal with the firms Cataldo Law and Sklar Kirsh providing legal counsel.
From Variety US