Warner Bros. Historic Music Catalog On Sale For $500M, Includes Purple Rain, Batman & More

Warner Bros. Discovery is reportedly trying to sell half its storied music and TV catalog for $500 million, including Batman and Purple Rain. In a supposed effort to adapt to the fast-changing way the public consumes entertainment, one of the biggest mass media companies is letting go of some of its assets. With the company having removed original content like Westword from Max and selling licenses to third parties, they continue the overhaul but this time with the music assets.

SCREENRANT VIDEO OF THE DAYSCROLL TO CONTINUE WITH CONTENT


Per Variety, Warner Discovery CEO David Zaslav, with attorney Allen Grubman, is leading the negotiations to sell some of the company’s iconic assets. An anonymous source says that the company is shopping “slightly less than half” of its catalog, although it’s unclear which properties are included in the selection. Music from movies such as Purple Rain, Evita, Sweeney Todd, Rent, several Batman films, and even “As Time Goes By” from the classic movie Casablanca is supposedly part of the sale. The outlet also claims that Sony is currently the front-runner for the sale. When reached for comment, neither Warner Bros. Discovery nor Sony obliged.



What WB Discovery Asset Sale Means For Hollywood

A couple looking out the window in Casablanca

No specific list of properties has been confirmed to be involved in this reported deal. However, this comes after a turbulent time for Warner Bros. Discovery. Almost every studio has dealt with business woes as the world moves forward from the global pandemic that gravely impacted the movie-making industry. However, Warner Bros. had a trickier time in light of the big moves that Zaslav has made in the past, including canceling several confirmed projects and even finished products such as Batgirl. Furthermore, issues regarding Ezra Miller’s allegations were not addressed while moving forward with the now box office struggling The Flash.

In any case, industry observers say it may be difficult to push through with the deal, despite Sony’s supposed interest in Warner Bros. Discovery’s offer. Citing that many of these assets are already half a century old, they are seen as “declining” in value, making them difficult to profit off of. At this point, only time will tell if this reported deal will go through as planned.

Looking for a purely business perspective, many of assets from the Warner Bros. Discovery‘s movie and TV music catalog may be declining in value given their age, but they remain ever-important culturally. Still, with the company’s $49.5 billion debt, this deal could possibly be an effort to alleviate its financial situation as Zaslav continues the cost-cutting initiatives.

Source: Variety

Leave a Comment