RatPac Co-Founder James Packer Pays Seven Figures to Take Over WB Office Suite: Source

Roy Lee's iconic office space was once occupied by Frank Sinatra; a rep denies that money exchanged hands.

This story first appeared in the March 20 issue of The Hollywood Reporter magazine.

How valued are billionaires on the Warner Bros. lot? When Australian RatPac co-founder James Packer wanted to take over producer Roy Lee's iconic office suite once occupied by Frank Sinatra, a request was rebuffed.

But a knowledgeable source says CEO Kevin Tsujihara intervened on Packer's behalf, and Packer offered a seven-figure "buyout," which Lee graciously accepted. Keep in mind, Packer's payoff doesn't give him ownership of the space, just the privilege of paying the five-figure monthly rent.

Says RatPac rep Simon Halls: "This is not true. Brett and James and the entire RatPac group are happy with the space, but no money changed hands in any shape or form to get this space."