In a major declaration of intent between two Hollywood and Asian studio powerhouses, Warner Bros Motion Pictures Group and CJ ENM have formed a c
In a major declaration of intent between two Hollywood and Asian studio powerhouses, Warner Bros Motion Pictures Group and CJ ENM have formed a co-development, co-financing and distribution partnership to exploit remakes of each other’s films.
Warner Bros Motion Pictures will act as lead studio on English-language films emanating from CJ ENM’s library, while CJ ENM will act as lead studio on Korean-language remakes from the Warner Bros vault.
Warner Bros Pictures will serve as global distributor on the films, with the exception of CJ ENM remakes, where the latter will distribute in South Korea, Vietnam, Indonesia, and Turkey.
Warner Bros Pictures and CJ ENM will be responsible for the development and production of their respective remakes, with each providing what the parties called “meaningful input” on key artistic decisions such as writer, director, producer, and cast, in addition to shared oversight of budget.
No further information was forthcoming at time of writing on whether there is a mandate to create a specific number of films in any given year or over an initial period.
Warner Bros Motion Picture Group co-chairs and CEOs Michael De Luca and Pam Abdy hailed the “enviable slate of films” built by CJ vice chairwoman Miky Lee and her team as the US studio looked to expand its slate across the world.
CJ ENM’s head of film business Jerry Kyoungboum Ko noted Warner Bros’ “legendary library that bridges Hollywood of past and present and is steeped in excellence”, adding that the partnership would “uncover and revitalise hidden gems”.
The Warner Bros library is one of the great film vaults and comprises more than 12,500 features, while CJ’s library includes Korean-language hits like Parasite and The Handmaiden, and Past Lives.
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