TechCrunch is reporting that Warner Bros. Pictures has filed for bankruptcy, which means that it has no assets or debt, and it is effectively “dying” in the eyes of investors.
Warner Bros., which acquired the rights to The Dark Knight Rises back in 2012, is not a particularly profitable company, and the studio has been losing money for the past several years.
However, it does have a very large number of movies, and Warner Bros.’ recent movie slate includes three big-budget blockbusters, Wonder Woman, Wonder, and The Martian.
This is not the first time Warner Bros has been facing financial trouble, and a lot of investors have been looking for an easy exit.
The last time that Warner Brothers faced a bankruptcy was in 2017, when it filed for Chapter 11 bankruptcy protection.
Warner is currently looking for $4 billion in funding, which is a lot less than it was looking for when it was in bankruptcy.
This news comes on the heels of a $100 million loss in 2017 for Warner Bros, which resulted in a large drop in its stock price.
Warner also has the majority of the rights in Batman v Superman: Dawn of Justice, which will likely mean that it will have to do a lot more with its assets.
However the studio did not get the same kind of financial boost that other big studios did, so it may not have the resources to continue releasing movies.
Warner has reportedly already made some deals to release movies on other platforms, like Netflix, but it’s unclear if this will be a long-term solution.
Warner will need to find some way to survive the impending closure of Warner Bros theaters, which has already taken place.
This may mean that Warner is looking to expand its theatrical distribution business, or possibly make some more movies.