Casino mogul James Packer seems willing to wager hundreds of millions of dollars on movies produced by Warner Bros.
Packer and producer- director Brett Ratner are negotiating a deal which would see their joint venture dubbed RatPac Entertainment become a major investor in the Hollywood studio’s upcoming production slate, according to the Hollywood Reporter.
Ratner and Packer launched RatPac in December, aiming to produce and finance independent fr0ilms and co-finance blockbusters with studio partners.
“We intend to build a major independent film company which not only has the ability to fully finance its films, but which also offers creative independence for its filmmakers,” Ratner said.
WB, which co-produces 6-8 films a year with Village Roadshow Pictures, is looking for new financial partners after the end of its deal with Thomas Tull’s Legendary Entertainment. RatPac may partner with Dune Entertainment, which previously co-financed all Fox's live-action films, the paper said.
Packer is said to be personally backing the film development, production and finance company.
The Packer family has long shown an appetite for Hollywood deal making. Kerry Packer was an investor in Arnon Milchan’s production powerhouse New Regency. James Packer sold the 25% stake in 2008 for a reported $US324 million.