Warner Bros. Split
Good morning: In today's edition of The Industry, we look at:
Warner’s woes, Jack Quaid’s pain, and Luc Besson’s Doggman.
Let’s go!
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Warner Bros., for a long time, has been considering its fate as a company.
They’re $40bn in debt, and the stock price has gone down 60% since they merged with Discovery in 2022. In August, they took a $9bn write-down on their linear assets.
So, they decided to restructure and split into two distinct units:
Global Linear Networks
CNN
TBS
Food Network
Cartoon Network
HGTV
Studios & Streaming
Warner Bros. Studios (film/TV)
HBO
Max
David Zaslav, President and CEO of Warner Bros. Discovery, stated that the move was so that the linear networks were better positioned to generate cash flow, cash which WBD’s streaming services, Max and Discovery+.
But this doesn’t actually change anything in the company; it’s just a restructuring, which may give them better optics if they choose to sell assets, as Zaslav noted:
“Our new corporate structure better aligns our organization and enhances our flexibility with potential future strategic opportunities across an evolving media landscape.”
Although they had considered selling CNN ($6bn value), the dauntless legal challenges and the asset’s strategic importance stopped them.
As stated above, the company is facing massive challenges:
60% stock drop since WarnerMedia merged with Discovery in 2022
$40 bn debt
Q3 2024 studio profits down 58% (e.g., the Joker 2 effect)
The silver lining is that the stock was up 15% today on the news.
The reorganization will be done by the summer of 2025.
For More:
THE INDUSTRY TLDR
Tom Holland has launched his production company, Billy17, with a producing deal from Sony.
WGA is about to halt writers from working with Village Roadshow (prod company: Wonka, Matrix series, Oceans 11 series) because of late payment to writers.
Hulu has ordered a pilot for an official Prison Break follow-up series from The Outlaw co-creator Elgin James.
Warner Bros. has a new Tom and Jerry movie.
Chitty Chitty Bang Bang (1968) is getting a remake from Amazon MGM Studios and Eon Productions, the team behind the James Bond franchise.
Clayface is officially joining the DC Universe, with Mike Flanagan (Midnight Mass) tapped to write the script.
Max’s first procedural The Pitt drops a trailer.
Snoop Dogg stars in Luc Besson’s new film
Doggman, The Last Man.Jack Quaid (The Boys) portrays a man immune to pain in Paramount’s forthcoming Novocaine.
Daisy Ridley stars in The Cleaner, an action-thriller from Bond director Martin Campbell.
Rebecca Hall is cast in Ryan Murphy's 11-episode FX drama titled The Beauty.
Screenplay for September 5 here.
Full breakdown of the 2025 Sundance Film Festival program lineup here.
Gus Van Sant directs his first film in 6 years, Dead Mans’ Wire. The film is set to star Bill Skarsgård (Nosferatu).
Mona Fastvold (co-writer: The Brutalist) directs Amanda Seyfried in Ann Lee, a 2025 musical about the Shaker leader, with original music by The Brutalist composer Daniel Blumberg.
THE INDUSTRY NEWS
Tom Holland has launched his production company, Billy17. Joining this venture is Will South (crew: Kingsman Series, Justice League) and Holland’s younger brother Harry.
This is pretty par for an A-list actor to form a production company around future projects, and this is packaged with Holland’s previously announced development deal with Sony.
Their first project, Burnt, written by Academy Award winner Rodney Rothman (Spiderman Across The Spider-Verse), is being developed as a starring vehicle for Holland, with plot details still under wraps. The team will also produce adaptations of Graeme Simsion’s The Rosie Project. Holland is also set to produce and star in the adaptation of Teddy Wayne’s psychosexual Tennis thriller The Winner.
Tom Holland has a lot to thank Sony for his turn as Peter Parker in the MCU, which was a life-changing role. Though he is slated to appear in at least another trilogy of Spiderman movies, it looks like Tom is thinking of the future and taking some agency in how he wants to present outside of that.
WGA is about to halt writers from working with Village Roadshow (prod company: Wonka, Matrix series, Oceans 11 series).
WGA stated:
“I can confirm that they’re late on paying their writers, and a stop-work order is imminent.”
Village Roadshow has been in trouble recently with the release of Joker 2, which may have led to them cutting eight staffers back in October as they tightened their belt.
Just a desperate man in a desperate situation. The long-running Fox crime series Prison Break (2005-2017) had a recent resurgence on Netflix, and fans are desperate for more… Well, they’re in luck! Hulu has ordered a pilot for an official Prison Break follow-up series from The Outlaw co-creator Elgin James and 20th Television. While plot details are being kept under wraps, it is said it will feature a whole new cast of inmates set in the same universe as the original show. All five seasons of Prison Break are currently on Hulu, garnering over 200 M streaming hours just this past year, with its creator Paul Scheuring attached to produce the new spinoff. Casting has yet to begin.
Warner Bros is going back to its roots with some promising animated fairs. WB has announced a very talented team of writers for Tom and Jerry:
Rashida Jones - Parks and Rec, Sunny, Celeste and Jesse Forever
Will McCormick - Celeste and Jesse Forever
Michael Govier - If Anything Happens I Love You
This project is expected to be a fresh iteration of the classic cat-and-mouse duo, distinct from the 2021 hybrid live-action/animated movie that received mixed reviews.
In the same vein, the Loony Tunes movie nearly lost to the vault but was brought back by Ketchup Entertainment and now has a trailer for its February 28th theatrical release. Watch Looney Tunes’ zany, somewhat adult The Day The Earth Blew Up teaser.
Tidbits:
Amazon MGM Studios and Eon Productions, the team behind the James Bond franchise, are developing a remake of the 1968 classic Chitty Chitty Bang Bang. The original film, starring Dick Van Dyke and adapted from Ian Fleming's (writer of James Bond) children's book, is now a beloved musical fantasy about an inventor and his magical car. No production details yet, but it’s aiming for a theatrical release.
Clayface is officially joining the DC Universe, with Mike Flanagan (Midnight Mass) tapped to write the script after pitching a standalone horror/thriller take on the shapeshifting character. Known as a frequent Batman adversary, Clayface has had a variety of animated appearances, most recently in James Gunn's Creature Commandos, but this will be the live-action take on the character. No directors have been announced yet.
From Downton Abbey to The Gilded Age, show creator and writer Julian Fellowes is switching things up with his next TV adaptation based on the gritty true crime book series following Detective Brunetti from Swiss-American author Donna Leon. Playwright Felix Legge (Chekhov’s Baby) will serve as co-writer and producer. A pretty substantial deviation from Fellowes’ beloved high society dramas, the 20th Television project has been a long time coming and is currently in its pre-production stage.
Walden Media (Apple’s Manhunt) has named Julian Janes as EVP of development and production. Jones previously was EVP at Bron label; she will now be expected to work closely with writers, directors, and producers. Janes previously produced Disney+’s film Secret Society of Second Born Royals and is currently in development on Dr. Seuss series Green Eggs and Ham for Netflix.
There is no balance in The Pitt. Max’s first procedural will be resonant if it lives up to the trailer’s premise: an emotionally traumatized Chief Attendant saves patients from physical trauma. The trailer is an adrenaline shot. On Max Jan 9th.
THE ACTOR SPOTLIGHT
Luc Besson’s Doggman. Ok. Luc Besson is not rebooting his bombastic masterpiece Dogman (2023) starring Caleb Landry Jones. Instead, he’s making a new film starring the real dog, Snoop Dogg, in The Last Man.
No word on plot, but three official hints:
Post-apocalyptic
Planet of the Apes inspired
Connected to Snoop Dogg’s song Last Man Standing
Maybe this is a movie about Dogg as the last man on a planet filled with dogs? The Last Man Standing song hints at bipedalism:
“Standing on my own two feet and I'm the last man./
Hmm, it's gettin' crazy everywhere, even in yo town.”
So, how did Besson choose Dogg for the role? The Fifth Element director has apparently been a fan of his work and stayed in touch after they first met 20 years ago.
And for Snoop Dogg’s part, he’s not only got a magnetic on-screen presence but has had some iconic film roles.
Look, we don’t know what this film will be or Dogg’s role, but a post-apocalyptic artist is a dreamboat combination.
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Jack Quaid portrays a man immune to pain in the forthcoming Novocaine. It’s a stark contrast to his character in The Boys, who grapples with intense physical and emotional distress. Though Quaid's comedic tendencies sometimes seem in-authentic, his performances rooted in trauma resonate deeply.
Here’s the Novocaine trailer which is ironically kind of painful to watch. Paramount is releasing in theaters (yay!) in March.
Daisy Ridley does Die Hard: The new trailer just dropped for The Cleaner, an action-thriller from Bond director Martin Campbell (Casino Royale, Golden Eye). The film is led by Daisy Ridley of the Star Wars franchise and Clive Owen (Children of Men) from Anton and Qwerty Films.
Official Synopsis:
Criminal activists hijack a gala, taking 300 hostages. One extremist plans mass murder as a message to the world. An ex-soldier turned window cleaner now works to rescue the hostages.
Campbell and Ridley have also collaborated on Dedication, a suspenseful hostage story expected to premiere sometime in 2025.
Cleaner will have a theatrical release on February 21st, 2025.
Rebecca Hall + Ryan Murphy. FX’s new 11-episode Ryan Murphy drama titled The Beauty has added Hall to the cast.
Synopsis:
A society where beauty can be achieved through a sexually transmitted disease. However, two detectives, Vaughn and Foster, soon discover there’s a high cost to becoming beautiful, like the lives of the people the disease infects, as it’s actually a government plot.
No word on who Hall will be playing, but if she’s one of the key people the disease infects, that will track with her outstanding ability to play characters who suffer immensely. This is demonstrated in the chillingly constructed Resurrection (2022), in which she is tormented by Tim Roth (trailer). Hall’s long take is one of the most frightening monologues in cinema.
She’s also magnetic in Christine (2016) as she plays the spiraling real-life reporter who killed herself on live TV (Trailer).
Produced by 20th Television, The Beauty, also starring Evan Peters, Anthony Ramos, Jeremy Pope, and Ashton Kutcher, is in production.
FESTIVALS AND RESOURCES
Read Moritz Binder, Tim Fehlbaum, and co-writer Alex David’s September 5 screenplay here:
https://theindustry.co/p/prospective-best-screenplay-academy
There are 18 more Oscar-hopeful scripts at the same link above.
INDIE FILMMAKER SPOTLIGHT
Gus Van Sant directs his first film in 6 years, Dead Mans’ Wire. The film is set to star Bill Skarsgård (Nosferatu) and Dacre Montgomery (Stranger Things).
Here’s the synopsis:
A former real estate developer who takes the mortgage banker who did him wrong hostage, demanding $5 million and a personal apology.
For two decades, Van Sant showcased his immense ability to create complex, troubled, and authentic characters, adeptly guiding seasoned actors to win their first Oscar, as well as nurturing up-and-coming actors:
Milk (2008)
Sean Penn (Best Actor)
Good Will Hunting (1997)
Robin Williams (Best Actor)
To Die For (1995)
Joaquin Phoenix
Drugstore Cowboy (1989)
Matt Dillon
Recently, his films have received a far less positive reception (Sea of Trees, Don’t Worry He Won’t Get Far on Foot).
His latest project, Hulu’s Feud: Capote vs. the Swans, based on the socialites in Truman Copte’s inner circle, was his best reviewed in a decade.
Van Sant is ready for a resurgence, and with Skarsgård and Montgomery, this may just be the vehicle for him. Shooting is set to begin early next year.
Prologue Entertainment is launching. The new indie film and TV company has steller founders:
President, Endeavor (2019 - 2023)
President, Ava Duvernay’s Array production company (2020 - 2021)
President, Netflix Original Film (2015 - 2020)
Noah Oppenheim (IMDBPro link)
President of NBC News (2017 - 2023)
Writer: Jackie (2016)
Financing comes from Jeff Zucker (RedBird Capital), Former CNN Chief and current Skydance backer.
Braun, Bremner and Oppenheim stated:
“Together, we aim to create compelling fictional films and series, often drawing inspiration from real-world characters and events resulting in projects that both entertain and engage.”
Their two most interesting new projects are Kathyn Bigelow’s new Netflix film and Zero Day a new Robert De Niro Netflix series.
While the Oscar campaign for Brady Corbett’s historical epic The Brutalist is just beginning to heat up, the film’s co-writer Mona Fastvold is directing her own film Ann Lee, a movie musical focusing on the female religious leader responsible for founding the Shaker Movement in the late 1770s and is even at one point deemed the ‘female Jesus Christ’.
Lee is being played by Amanda Seyfried (Mank), who, despite not landing the role of Glinda in Wicked, has a long history of musical theater involved in the film adaptations of Mamma Mia! and its sequel (2008, 2018) as well as the Oscar-nominated Les Misérables (2012). Seyfried will be joined by Christopher Abbot (Poor Things), Thomasin McKenzie (Jojo Rabbit), Lewis Pullman (Top Gun: Maverick), Tim Blake Nelson (The Ballad of Buster Scruggs), and more.
The Brutalist’s Golden Globe-nominated composer, Daniel Blumberg, is also involved in Ann Lee, having written and produced original music for the film.
The secret indie musical has already wrapped filming and is set for a 2025 premiere.
Tidbit:
Adult Swim’s Common Side Effects debuts Feb. 2, blending comedy and thriller in a critique of the pharmaceutical industry. Created by Joe Bennett (Scavengers Reign) and Steve Hely (Veep), with producers Mike Judge and Greg Daniels, it follows lab partners Marshall and Frances as they expose a miraculous cure-all mushroom pursued by powerful enemies.
The first look released earlier this year had a bit of virality.
The full trailer was released today.
Catch back-to-back episodes for the series premiere on February 2nd.
ON THIS DAY
1950. James Dean begins his career with an appearance in a Pepsi commercial.
That’s all for the week. See you Monday.
Written by Gabriel Miller, Spencer Carter, and Madelyn Menapace.
Editor: Gabriel Miller.
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The WBD merger always struck me as short-sighted and unlikely to work well financially or artistically. This news seems long overdue to be honest.
Interesting that Warner Bros is looking at building a new studio complex in Las Vegas....and Sony is as well. With the costs to shoot in CA most productions shoot outside of CA as well as outside the USA.