Burbank, CA – Warner Bros. Pictures and RatPac-Dune Entertainment have entered into a multi-year agreement to co-finance as many as 75 upcoming titles from the Studio, effective immediately. The announcement was made today by Kevin Tsujihara, CEO, Warner Bros. and by Steven Mnuchin, Brett Ratner and James Packer of RatPac-Dune Entertainment, the film finance vehicle formed by Mnuchin and RatPac Entertainment to co-finance the Warner Bros. Pictures slate.
This co-financing arrangement covers upcoming releases from Warner Bros. Pictures and New Line Cinema, beginning with "Gravity' (in theaters October 4) and "Grudge Match" (December 25), and includes films from all genres and all budgets, including Studio tentpole releases based on iconic franchises.
"We are very pleased to be entering into this relationship with RatPac-Dune Entertainment," said Tsujihara. "This agreement gives us increased strength and flexibility in the motion picture division and an even greater ability to manage risk as we continue to produce high-quality filmed entertainment for the global audience. We look forward to working with their team as we move forward in this exciting new partnership with a truly great organization."
"Warner Bros. Pictures has an incredible track record of success with the most valuable franchise properties, the best relationships in the creative community and an extremely talented executive team," said Mnuchin. "We're excited to be partnering with the company on its film slate and look forward to a long and mutually beneficial relationship," said Ratner and Packer.
Warner Bros. Pictures is poised for another excellent year at the worldwide box office, with six films already crossing the $200 million mark globally: "We're the Millers" (New Line), $238 million; "The Conjuring" (New Line), $297 million; "The Great Gatsby," $350 million; "The Hangover – Part III," $360 million; "Pacific Rim," $408 million and "Man of Steel," $663 million. In addition to "Prisoners," which opened to great critical and box office success on September 20, the division will release "Gravity," "Her" and "Grudge Match" this year.
ABOUT STEVEN T. MNUCHIN – Mr. Mnuchin formed RatPac-Dune Entertainment LLC together with RATPAC Entertainment, to co-finance the Warner Bros. slate. Mr. Mnuchin is Chairman, CEO, and Founder of OneWest Bank Group LLC (a California based regional bank) and Dune Capital Management LP (a private investment firm).
Mr. Mnuchin has extensive experience investing in and financing the entertainment industry. He has been in the film finance business for the past eight years and has invested through his affiliates Dune Entertainment LLC, Dune Entertainment II LLC, and Dune Entertainment III LLC. He has financed major blockbusters such as "Avatar" and "Life of Pi."
ABOUT RATPAC ENTERTAINMENT – RatPac entertainment is the film finance and production partnership of filmmaker Brett Ratner and Australian mogul James Packer. RatPac Entertainment's aim is to produce and finance theatrical films as well to co- finance tentpoles with studio partners.
As a director, Ratner has grossed over $2 billion worldwide, directing such hits as the "Rush Hour" trilogy, "Red Dragon," "X-Men: The Last Stand," and most recently, "Tower Heist." Ratner's next project is "Hercules," which he is producing and directing starring Dwayne Johnson.
James Packer is the Chairman of Crown Limited. Crown is one of Australia's largest resort and entertainment groups. It has properties and investments in Melbourne, Perth, Macau and London with a market capitalization of approximately $10 billion.