Things are looking grimmer than usual for Looney Tunes‘ much put-upon desert predator — again — as a new report from The Wrap seems to signal that Warner Bros. Discover is looking to put hybrid feature Coyote vs. Acme back in the bin, perhaps never to be seen again. Originally slated for (HBO) Max, the film was canceled ahead of a friends-and-family screening, but high praise for the film’s faithfulness to the original cartoons and harsh criticism of the decision from major industry figures led WBD to reverse and declare the project up for bids from other outlets.
(Apparently, the executives who opted to snatch away Wile E.’s big moment — WB Motion Picture Group CEOs/co-Chairs Michael De Luca and Pam Abdy, WB Pictures Animation President Bill Damaschke and the controversial head of WBD, David Zaslav — were not in attendance at the final cut screening, and Zaslav has never seen any of it.)
However, with WBD’s Q4 earnings call looming at the end of the month, sources on the film team believe the company will go 360 degrees and end up deleting the whole movie after all. A WB exec reportedly told Coyote vs. Acme producer Chris DeFaria in a phone call last month, “They just want to get this behind them. They want to close the books.”
It seems the studio has not been shopping the pic in good faith. The report reveals that WBD had stood to squeeze $35 – 40 million out of dumping it for the tax write-off, and was seeking “negative cost plus” to the tune of $75 – 80 million, non-negotiable — but did not make bidding studios aware. Coyote vs. Acme had a warm reception at screenings for potential buyers including Netflix, Amazon and Paramount, who all put in offers (they say Paramount even offered a theatrical release). The momentum for a release was spurred on by voice star Eric Bauza tweeting a first-look image from the film with the optimistic message, “See ya in 2024!”
However, no offer seems to have been accepted, WBD has not announced a new home for the film … and Coyote vs. Acme seems to be running down the fuse on the studio’s tax write-off TNT bundle.
[Source: The Wrap]
