After months of headlines about cancellations and budgets, it looks like Warner Bros. Discovery could bail out another studio’s film. It was reported Thursday that Nancy Meyers’ highly anticipated upcoming blockbuster, whose working title is Paris Paramount, could end up at Warner Bros. after going up in flames at Netflix. The film is expected to begin production in the summer and should star Scarlett Johansson, Penelope Cruz, Owen Wilson and Michael Fassbender, all elements that apparently appeal to Warner Bros.
One of the major questions surrounding this jump is whether or not Paris Paramount will keep the same budget if it switches from Netflix to Warner Bros. Meyers reportedly asked Netflix for between $130 million and $150 million, which is believed to have been a factor that derailed the negotiations. Considering that Warner Bros. is looking to massively reduce its debt, even by shedding completed projects to be able to depreciate them fiscally, it will be interesting to see if the original budget is maintained.
What is Paris Paramount about?
According to early reports, Paris centers on a talented young director-writer who falls in love with a female producer; the two made several successful films before breaking off their romantic and professional relationship. The two, however, are forced to get back together when a big new project comes along and they find themselves once again teaming up with high stakes and volatile stars. Some have compared the speculated storyline to Meyers’ life and her professional and personal relationship with Charles Shyer.
Why is Warner Bros. Discovery canceling so many shows and movies?
These patterns started with the cancellation of Batgirl and Scoob! Holiday Haunt in August, both already completed and set to debut on HBO Max. In the following months, Warner Bros. Discovery removed from its streaming platform a series of films exclusive to HBO Max, a series of animated series loved by fans. and even existing HBO original series like Westworld and The Nevers. Anonymous sources said in August of last year that no existing show is safe from potential cancellations or cancellations, with Warner Bros. Discovery now making decisions on a case-by-case basis.
“Honestly, I wouldn’t classify it as a tax issue,” Kathleen Finch, president and chief content officer of Warner Bros. Discovery’s US network group, said in a keynote speech earlier this year. “When two companies combine, the challenge is to evaluate what you have available. Then you see if what you have fits your current strategy. This had a lot to do with what we had to do. Those were painful decisions. I know what it’s like to be a content creator and then have your work taken away from you. None of this has been taken lightly. These have been very painful decisions, and where possible, we are working closely with creators to find a home for much of the content.”
“I had long heart-to-heart talks with people, explaining what happened, why it happened, all the decisions that were made,” Finch added. “I completely understand why people are nervous. I hope they are not because it was a particular moment, which has nothing to do with the way we intend to run this company. It’s happening in the industry in other places. It’s not our way of doing business, it’s not a strategy. I’m happy to personally talk to anyone who wants to discuss this, because it’s been really hurtful and it’s not the way we tend to go forward.”
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