Legendary Pictures and Warner Bros. have finally parted ways with one another. This isn’t some cheesy romantic break-up between two studios, their contract with each other finally came to an end. Talks about renegotiating have ended and Legendary is looking towards bigger studios like Sony, Universal, and Fox to become co-financing and distribution partners.
Legendary CEO Thomas Tull seeks to have more creative control over the contents that the studio creates which appears to be part of the reason why the studio is seeking a new partner. The goal the studio set is to have a new deal lined up before July 4th. Tull adds that he would like to partner with any studio that could help them create a larger entertainment company that could expand beyond film.
Warner Bros. is seeking to develop films more independently instead of seeking co-financiers, like in the way it produced the Harry Potter series where profits were split between the studio and J.K. Rowling. The studio wants to extend this strategy to its current DC Comics adaptations in order to reap better rewards.
The last film Legendary and Warner Bros. did together as partners is Guillermo del Toro’s Pacific Rim which releases on July 12th.[Variety via Collider]