Warner Bros. Declines to Renew Brett Ratner's Financing Deal
The producer's RatPac-Dune Entertainment had a $450 million slate financing facility that covered costs on some of the studio's biggest blockbusters.
Warner Bros. has severed all ties with movie director-producer Brett Ratner, who was accused by multiple women of sexual harassment and misconduct in November.
The studio will not renew its deal with RatPac-Dune Entertainment, the $450 million slate financing facility that covered costs on some of Warner Bros.' biggest blockbusters.
RatPac-Dune was established in 2013, when Ratner 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 later left, at which time Ukrainian-born billionaire Len Blavatnik came on board.
Warners' deal with RatPac-Dune expired in March, and it was expected that the studio would not renew the financing agreement. RatPac-Dune is behind a few of the studio's recent releases like Tomb Raider and Ready Player One. This weekend's release Rampage, the monster movie starring Dwayne Johnson, will be the last film financed under the agreement.
RatPac-Dune is separate from Ratner's production company RatPac Entertainment. In November, following the Los Angeles Times' report that detailed allegations of his sexual harassment and misconduct, Warner Bros. chose not to renew Ratner's first-look deal and had him vacate his offices on the lot.
Ratner, who has kept a low profile since the report came out, was also removed as a producer on Warner Bros.' film adaptation of the best-selling novel The Goldfinch. Additionally, Playboy has put Ratner's planned Hugh Hefner biopic on an indefinite hold.