BREAKING: Warner Bros. Entertainment and Village Roadshow Pictures Group have extended to 2017 their long-standing arrangement to co-produce and co-finance films. VRPG also renewed and upsized its now 15-year film production facility to $1.125 billion through that date. JPMorgan Chase and Rabobank continue as joint syndication agents.
The VRPG and Warner Bros co-financing arrangement has spanned 15 years and 68 films so far, with global hits that have included The Matrix trilogy, the Ocean’s Eleven films, Sherlock Holmes and Happy Feet. The co-financing program has been a cornerstone of the Warner Bros program, with Legendary Pictures also emerging as a significant player in allowing the studio to share risk in tent pole fare. Upcoming Warner Bros/VRPG films include the Ruben Fleischer-directed Gangster Squad and the Baz Luhrmann-directed The Great Gatsby.
There’s a lot of high-fiving here from the Roadshow and Warner Bros sides.
Said Village Roadshow Entertainment Group chairman Graham Burke: “We now have the firepower of the financing locked away, the best management in the business and the renewal of our long term relationship with Warner Bros. which puts us in fantastic shape. Warner Bros. continues to be the industry leader in production, distribution and marketing.”
This from Warner Bros chairman/CEO Barry Meyer: “We have had a long, successful relationship with Village Roadshow, and we are pleased they will continue to be our partner in making great movies.”
Said Village Roadshow Entertainment Group CEO Greg Basser: “We are pleased to have accomplished our strategic goal of closing the financing hand in hand with the extension of our Warner Bros. deal. We are fortunate to continue our partnership with a great studio and grateful to have a diverse group of investors on board.”
From Warner Bros Pictures Group president Jeff Robinov: “Working together, our companies have produced and released many popular and successful films, and we expect that to continue into the future with this agreement.”
And from longtime VRP chairman/CEO Bruce Berman: “We look forward to expanding upon the solid 15 year foundation and continuing to grow our slate of tent pole and star-driven films under the Warner banner. We’re excited to start the New Year with action-packed Gangster Squad releasing in January followed by the highly anticipated summer event film The Great Gatsby in May.”
The next batch of VRPG and Warner Bros films include: LEGO: The Movie, an animated feature film adventure starring Will Arnett, Will Ferrell and Morgan Freeman directed by Phil Lord and Christopher Miller; the Tom Cruise-starrer All You Need Is Kill, directed by Doug Liman; and the George Miller-directed Mad Max: Fury Road,” which stars Tom Hardy and Charlize Theron.