Warner Bros. Discovery is in negotiations to sell about half of its film and music television publishing assets for an estimated price of $500 million. diverse a report.
It is uncertain at this time which Warner studio assets are being sold, but music from films such as Casablanca, Purple Rain, Evita, Sweeney Todd, Rentand the Batman It is rumored that the franchise will be included in the deal. Sony is said to be the frontrunner to acquire the rights.
Some business insiders have indicated that it would be a smart business move for Warner Bros. to make. Discovery is for sale right now and help pay off their $49.5 billion in debt while the music catalog market thrives. But on the other hand, some observers have noted that these assets are “declining” in value and will have little chance of being put to good use, since many of them are over 50 and no longer relevant in current popular culture.
Warner Bros. Discovery has had a rough ride over the past year or so, having shelved completed projects, removed hundreds of episodes of classic TV from broadcast, and canceled popular contemporary shows. The company also recently laid off a slew of senior officials at Turner Classic Movies, prompting filmmakers Martin Scorsese, Steven Spielberg and Paul Thomas Anderson to call an emergency meeting with CEO David Zaslav to discuss the channel’s future.