Warner Bros. Motion Picture Group has entered into a multi-year co-financing agreement with investment firm Domain Capital aimed at strengthening theatrical programming.
The co-financing agreement has already started with participation in the hit “Barbie,” which smashed the box office, earning $1.4 billion. Then, the collaboration will extend to other Warner Bros. releases this year, including “Aquaman and the Lost Kingdom,” “Wonka” starring Timothée Chalamet and the film “The Color Purple,” a musical produced by Oprah Winfrey.
WB describes itself as pleased with the deal, given the deep industry knowledge of Domain Capital, which already announced a $700 million fund dedicated to entertainment and media last year.
Domain also recently closed a deal with Sony Music Publishing to acquire the rights to the existing and future songs of singer-songwriter Ashley Gorley, author of hits for artists such as Jon Bon Jovi, Luke Walton, and Carrie Underwood.
On the investment company’s side, the deal is equally satisfying.
“We are honored to be working with a world-class studio partner in Warner Bros. and excited to participate in furthering their long track record of creating premium theatrical content,” says Pete Chiappetta, Domain’s managing director of media, entertainment and technology.
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