Los Angeles, CA – After being put on hold due to tax incentives over a year ago, the Looney Tunes-inspired film “Coyote vs. Acme” is now on the verge of securing a new distributor.
Sources suggest that Ketchup Entertainment is close to acquiring the distribution rights for the film, with the deal rumored to be valued at around $50 million. This news was first reported by Deadline, known for breaking stories in the entertainment industry.
Ketchup Entertainment, an independent distributor, recently took charge of releasing “The Day the Earth Blew Up: A Looney Tunes Movie” to theaters after Warner Bros. Discovery sought a new distributor for the film. The movie premiered on March 14 and has earned $3.9 million at the domestic box office so far.
Directed by Dave Green and produced by DC Studios co-chief James Gunn, “Coyote vs. Acme” is a live action-animation hybrid featuring stars like John Cena and Lana Condor. Warner Bros. initially decided to shelve the completed film in November 2023, classifying it as a $30 million tax write-off, which drew criticism from the creative community. Subsequently, the studio allowed the filmmakers to explore other distribution options.
Amazon Prime Video, Apple, and Netflix have all viewed “Coyote vs. Acme” for potential acquisition, but no agreements were reached. This setback occurred during a period where Warner Bros. had to make cost-cutting decisions post-pandemic, leading to the shelving of “Batgirl” and “Scoob! Holiday Haunt” as well. These films, all greenlit under former boss Jason Kilar, faced similar fates before his departure in April 2022.
Founded in 2012, Ketchup Entertainment has a track record of releasing independent films, including works featuring talents like Michael Keaton, Ben Affleck, and Jessica Chastain. The potential acquisition of “Coyote vs. Acme” adds another high-profile project to their portfolio, signaling a positive step for the studio’s future endeavors.