A brand new report claims that Warner Bros. Discovery plans to sell half of the rights to its movie and tv music assets for $500 million.
Warner Bros. Discovery is reportedly trying to sell half its storied music and TV catalog for $500 million, including Batman and Purple Rain. In a supposed effort to adapt to the fast-changing way the public consumes entertainment, one of the biggest mass media companies is letting go of some of its assets. With the company having removed original content like Westword from Max and selling licenses to third parties, they continue the overhaul but this time with the music assets.
SCREENRANT VIDEO OF THE DAY SCROLL TO CONTINUE WITH CONTENT Per Variety, Warner Discovery CEO David Zaslav, with attorney Allen Grubman, is leading the negotiations to sell some of the company's iconic assets. An anonymous source says that the company is shopping “slightly less than half” of its catalog, although it's unclear which properties are included in the selection.
What WB Discovery Asset Sale Means For Hollywood No specific list of properties has been confirmed to be involved in this reported deal. However, this comes after a turbulent time for Warner Bros. Discovery. Almost every studio has dealt with business woes as the world moves forward from the global pandemic that gravely impacted the movie-making industry. However, Warner Bros.
In any case, industry observers say it may be difficult to push through with the deal, despite Sony's supposed interest in Warner Bros. Discovery's offer. Citing that many of these assets are already half a century old, they are seen as "declining" in value, making them difficult to profit off of. At this point, only time will tell if this reported deal will go through as planned.
Looking for a purely business perspective, many of assets from the Warner Bros. Discovery's movie and TV music catalog may be declining in value given their age, but they remain ever-important culturally. Still, with the company's $49.5 billion debt, this deal could possibly be an effort to alleviate its financial situation as Zaslav continues the cost-cutting initiatives.
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