Packer's RatPac signs lucrative movie deal with Warner Bros
RatPac is the company Mr Packer founded last December with Hollywood producer-director Brett Ratner, and Steven Mnuchin, the principal of private investment company Dune Capital Management.
The deal covers co-financing on upcoming releases Gravity, which opens in Australia this week, and Grudge Match, which is slated to open on January30.
Warners did not put a value on the deal, but trade papers report it as being worth about $450 million in financing to the studio. The deal gives RatPac a stake in "films from all genres and all budgets, including studio tentpole releases based on iconic franchises".
Warner Bros owns DC Comics, which includes Batman, Superman, The Green Lantern and Wonder Woman. It also owns the Harry Potter franchise.
Author J.K. Rowling recently announced she was writing a screenplay for a film based on Fantastic Beasts and Where to Find Them,, a textbook that features in the Potter books. Warner Bros will produce the film.
Mr Packer's personal wealth was put at $6 billion by BRW in May, and he has long counted Hollywood royalty such as Tom Cruise and Russell Crowe among his closest friends. Though this is his first foray into Hollywood financing, he would appear to be in good hands.
Brett Ratner, 44, is the producer of the Snow White reboot Mirror Mirror, the indie flick Catfish and the comedy hit Horrible Bosses. He is also the director of the three Rush Hour films and the Marvel Comics adaptation X-Men: The Last Stand.
Less salubriously, he was slated to produce the 84th Academy Awards but resigned amid scandal in November 2011 after remarking that "rehearsal is for fags" (the telecast's host, Eddie Murphy, resigned in support the following day, to be replaced by Billy Crystal).
Mr Mnuchin's Dune Entertainment has production credits that include the highest-grossing movie in history, Avatar, and Oscar-winners Black Swan, Life of Pi and Lincoln. Its forthcoming films include Batman vs Superman and Avatar 2.
Frequently Asked Questions about this Article…
Warner Bros Pictures signed a multi-year deal with RatPac-Dune Entertainment to co-finance and make as many as 75 movies, giving RatPac a stake in films across genres and budgets, including studio tentpole releases.
RatPac was founded by James Packer together with Hollywood producer-director Brett Ratner and Steven Mnuchin, the principal of private investment firm Dune Capital Management; the financing partner is referred to as RatPac-Dune Entertainment.
Warner Bros did not disclose a value for the deal, but trade papers reported it as being worth about US$450 million in financing to the studio.
The deal specifically covers co-financing on upcoming releases mentioned in the article, including Gravity and Grudge Match (slated to open January 30). It also gives RatPac stakes in films from all genres and budgets, including franchise tentpoles.
Warner Bros owns DC Comics characters such as Batman, Superman, The Green Lantern and Wonder Woman, and it also owns the Harry Potter franchise. The article also notes Warner Bros will produce a film based on J.K. Rowling's Fantastic Beasts and Where to Find Them.
Yes. The article describes this as James Packer’s long-mooted foray into the film business and says this is his first foray into Hollywood financing.
Brett Ratner is producer-director of films including Mirror Mirror, Catfish, Horrible Bosses and the Rush Hour series, and directed X-Men: The Last Stand; the article also notes a public scandal tied to his planned role for the 84th Academy Awards. Steven Mnuchin’s Dune Entertainment has credits including Avatar (the highest-grossing movie in history), Black Swan, Life of Pi and Lincoln, with forthcoming films mentioned such as Batman vs Superman and Avatar 2.
The article reports the factual details of the deal — a multi-year co-financing arrangement potentially worth about US$450 million, covering up to 75 films and involving James Packer, Brett Ratner and Steven Mnuchin. It does not provide investment advice or quantify how the arrangement will affect investors or specific securities.
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