Burbank-based Legendary Entertainment has signed a new multiyear worldwide distribution deal with Sony Pictures, moving away from its longtime partner Warner Bros.
The Burbank-based company, known for the popular “Dune” remake as well as “Godzilla vs. Kong,” said it will now release its movies through Sony, according to a joint statement Monday.
The companies are committed to releasing the films in theaters as a way of building long-term value in their titles, the statement said. Legendary signed its deal with Warner Bros. in 2019. “Sony’s commitment to theatrical distribution aligns with our vision of how to best derive the most value for Legendary’s movies,” Legendary Chief Executive Joshua Grode said in the statement.
Warner Bros. is now under the rule of Warner Bros. Discovery CEO David Zaslav, who has been adamant about prioritizing theatrical releases for big movies and exploiting other release windows rather than sacrificing revenue to grow streaming subscriptions.But he has also enacted cost-cutting measures that have caused angst among Hollywood’s creative community, axing high-profile projects such as a $90-million “Batgirl” movie., a regular hitmaker for Warner Bros.
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