(Bloomberg) – David Zaslav, CEO of Warner Bros. Discovery Inc., has begun meeting with candidates who can replace film studio heads Michael De Luca and Pamela Abdy.
It is said that negotiations with potential successors are in an early and informal stage, and final decisions on the future of Deluca and Abiy have not yet been made.
“The rumors that the studio is about to change leadership are inaccurate,” Warner Bros. found spokesman Robert Gibbs said in a statement.
De Luca and Abdy’s contract expires in 2026. Zaslav hired two executives – Mike and Pam – as they know in Hollywood – to restore Warner Bros. 17, disappointed at the box office.
De Luca and Abdy signed development and production deals with actors Tom Cruise and Margot Robbie and purchased projects from directors including Alejandro González Iñárritu. In order to get some of these movies at auction, Warner Bros. agreed to pay for prices that rivals cannot prove.
In February, Zaslav had been reviewing the stock prices that film studios spent on titles with uncertain business prospects, causing onshore, according to Bloomberg. Revenues before interest, taxes, depreciation and amortization in the sector, including the Film Group, fell 24% to $1.65 billion last year.
Warner Bros., one of the film’s most successful and prestigious studios, left MGM after they acquired the company in 2022.
In January, De Luca and Abdy fired two senior studio executives, Chief Marketing Officer Josh Goldstine and International Distribution Director Andrew Cripps. Amazon’s Ted Lim was hired in a newly created role of Chief Business Officer to increase the studio’s profitability.
This month, De Luca and Abdy delayed their two most compelling bets: a battle with Anderson and Maggie Gyllenhaal’s The Mride!
According to box office professionals, the next movie for the film is a Minecraft movie Warner Bros., which opened in the theater on April 4. Theatres alone are expected to bring more than 55 million Canadian dollars in box office.
Warner Bros. and other studios will showcase their upcoming films to drama operators at the Cinemacon trade show in Las Vegas on Monday.
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