Warner Bros. has severed ties with Brett Ratner, sources close to the situation confirmed Wednesday to The Hollywood Reporter.
The news comes less than an hour after the producer responded to the numerous allegations of sexual harassment and misconduct made against him in a recent Los Angeles Times report.
"In light of the allegations being made, I am choosing to personally step away from all Warner Bros.-related activities," Ratner said in a statement. "I don’t want to have any possible negative impact to the studio until these personal issues are resolved."
On Wednesday morning, six women, including actresses Olivia Munn and Natasha Henstridge, detailed their experiences with the director-producer. His attorney Martin Singer denied all of the accusations in a 10-page letter to the Times, writing, "I have represented Mr. Ratner for two decades, and no woman has ever made a claim against him for sexual misconduct or sexual harassment."
A few hours after the report, Warner Bros. released a statement via a spokesperson, saying, "We are aware of the allegations in the LA Times and are reviewing the situation."
According to a source, the studio has since reviewed their options and have made the decision not to renew Ratner's first-look deal, which had since expired. Moreover, Ratner will also lose his plum RatPac Entertainment offices, which he was renting on the studio lot and were once used by Frank Sinatra.
Ratner will also be removed as a producer on the film adaptation of the best-selling novel The Goldfinch — the only film on the studio's slate on which he is an active producer.
Ratner still remains a partner in the RatPac-Dune Entertainment slate financing facility, which was established in 2013 with a $450 million financing agreement signed by the studio. At the time, Ratner was partnered with James Packer and now U.S. Treasury Secretary Steven Mnuchin as well as silent investors like the Koch brothers and Bill Gates. (Packer has since left, with Ukrainian-born billionaire Len Blavatnik taking his place.)
The studio will honor the financing deal through the end of its contract in March. RatPac-Dune Entertainment is financing several films that remain on the studio's upcoming slate: the upcoming Justice League movie (due out Nov. 17), Father Figures, Clint Eastwood's 15:17 to Paris, Game Night, the Tomb Raider reboot and Steven Spielberg's Ready Player One.