Good news is coming once again for Looney Tunes fans in Hollywood. More than a year after Warner Bros. shut down “Coyote vs. Acme” for tax incentives, the much-anticipated film is now on the verge of finding a new home.
According to the latest news from the entertainment world, independent distributor Ketchup Entertainment is the frontrunner to acquire the film’s distribution rights. The deal is not yet confirmed but is being valued at around $50 million, reports Deadline.
“Coyote vs. Acme” is a live action-animation hybrid film that stars John Cena and Lana Condor in the lead roles. The film is directed by Dave Green while it was produced by DC Studios co-chief James Gunn. The film was originally made with a budget of $70 million, but in November 2023, Warner Bros. completely shut it down for a tax deduction of $30 million.
The decision caused widespread outrage in the film industry and creative community, as the film was already completed. The studio then allowed the film's team to sell it to other distributors. At that time, major platforms like Amazon Prime Video, Apple and Netflix screened the film, but no deal could move forward.
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Ketchup Entertainment's name recently came into the limelight when it released another Looney Tunes film from Warner Bros. "The Day the Earth Blew Up: A Looney Tunes Movie" in theaters. The film hit theaters on March 14 and has so far grossed $3.9 million at the US box office.
Although this figure is not very big, it is being considered a bold move on the part of Ketchup, especially when Warner Bros Discovery decided to sell this film as well. Now something similar is expected to happen with “Coyote vs. Acme”, and if the deal is completed, the film could hit theaters in 2026.
This is nothing new for Warner Bros. Before “Coyote vs. Acme”, the studio had also shut down two other big films as part of its efforts to cut costs after the pandemic. About a year ago, the $90 million budget DC adventure “Batgirl” and the children's “Scoob! Holiday Hunt” were also canceled for tax cuts.
All three films were started during the tenure of former studio boss Jason Killer, who left the company in April 2022. These decisions shocked the entertainment industry and undermined the confidence of filmmakers in the studio.
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Ketchup Entertainment, founded in 2012, has made its mark in the distribution of independent films. It has brought audiences such films as Michael Keaton's comedy "Goodrich," Ben Affleck's thriller "Hypnotic" and Jessica Chastain's drama "Memory."
Now with "Coyote vs. Acme," the company is once again trying to give new life to an ambitious project from Warner Bros.
Film fans and Looney Tunes fans are now waiting for the deal to close. If all goes according to plan, this new tale of Wile E. Coyote could make its way to the big screen, proving that art and creativity can't be suppressed forever.