Warner Bros. Discovery is in talks to sell about half of its film and TV music publishing assets for an estimated $500 million, hits and type Report.
It’s unclear which Warner Studios assets are being sold, but music from the film, such as Casablanca, Purple Rain, Evita, Barber Todd, Lucky House Rentaland batman A franchise is rumored to be included in the deal. Sony is reportedly the frontrunner to acquire the rights.
Some in the industry say it would be a smart business move for Warner Bros. Discovery to sell now and help pay down its $49.5 billion in debt while the music catalog market is booming. But on the other hand, some observers point out that the value of these assets is “falling” and there is little chance of being fully utilized, because many assets are over 50 years old and no longer relevant to current pop culture.
Warner Bros. Discovery has had a rocky journey over the past year or so, shelving completed projects, removing hundreds of classic TV episodes from streaming and canceling popular contemporary shows. The studio also recently fired a number of top executives at Turner Classics, prompting filmmakers Martin Scorsese, Steven Spielberg and Paul Thomas Anderson to join CEO David Zaslav Call an emergency meeting to discuss the future of the channel.