MGM has established a new partnership with Warner Bros. for overseas distribution. The partnership will start in November with the Luca Guadagnino movie “Bones and All”Continue for at least three more years.
Warner will receive a new stream in incremental revenue from distribution fees. This deal comes two months after Pamela Abdy, Michael De Luca, and Michael De Luca resigned as MGM heads to become the co-chairs, and CEOs, of Warner Bros. Motion Picture Group. They negotiated the deal with MGM’s COO Christopher Brearton; Warner’s international distribution chief Andrew Cripps will oversee distribution of these titles.
This agreement covers worldwide physical home entertainment distribution of all MGM titles. Under the terms of this deal, MGM and Warner will collaborate on overseas marketing/advertising, publicity, film distribution and exhibitor relations for all of MGM’s films starting in 2023, with Warner responsible for execution.
MGM’s three films that are not being distributed under the Warner deal will be missed, most notably James Bond 2, which will see Daniel Craig succeed as James Bond and will be released abroad by Universal Pictures, under an earlier international distribution deal. Universal was the international distributor for Craig’s last Bond film, “No Time to Die,”It brought in $613 millions internationally.
Warner Bros. will handle overseas distribution on Bond films after the new actor’s debut movie, which is not expected to begin production until 2024 at the earliest. Other MGM films being handled internationally by Universal as part of the outgoing distribution deal are Orion Pictures’ “Till,”In October, a biopic about Emmett Till’s murder will be released. Also, the Sarah Polley drama “Women Talking”Frances McDormand stars in the film, which will be available for purchase in December.
After the publication of “Bones and All”This November, Warner/MGM will start in earnest next spring. “Creed III,”The third installment of the “Rocky” spinoff series that will also be the directorial debut of the film’s star, Michael B. Jordan. The film will be released in March.
Deadline reported the first news about the deal.