The renowned Warner Bros. Discovery is not going through a good financial moment. For this, and to try to pay his debts, he would sell part of the music from his movies and television shows for approximately 500 million dollars. Read more, in this note!
Currently there is more than one company that is trying to get its financial situation afloat and pay off its debts. Examples? Disney and Warner Bros. Discovery, who, to cut costs, removed content on their respective streaming services, among other things. However, this time we are going to focus on wbd and in one of the possible moves it could make to make money relatively quickly: a deal of approximately $500 million to sell rights to a good part of its catalog of film and television music.
As reported Hits and Variety, Warner Bros. Discovery it is reportedly trying to sell a little less than half of its film and television music publishing assets to a record label. These rights would be to a lot of music from mostly old shows and movies. But it would still be worth about $500 million, a sum that would help pay off a $49.5 billion debt.
Although all this is yet to be seen and there is nothing confirmed, some of the songs from shows and movies from Warner Bros. Discovery that could be sold. From songs we hear in Purple Rain, Evita, Sweeney Todd, Rent and various movies Batmanuntil The Last Waltz, Sesame Street, Dick Tracy, and As Time Goes By of White House.
Given the recent focus of wbd in paying off its debts, one can understand why the company might be considering this type of move. However, some are not convinced that this deal will work, as many of the company’s assets are more than half a century old, their value is “diminishing” and could be difficult to exploit. More than anything if they have little familiarity or resonance in the present or the future.
The aforementioned media pointed out that one of the main candidates to buy this music from wbdwhich is currently under a multi-year management agreement with Universal Music Publishing, is nothing more and nothing less than sony. Apparently, the person in charge of overseeing the deal for the CEO of Warner Discovery, David Zaslavis the main lawyer Allen Grubman.
We will see if this agreement comes to fruition and if it effectively gives a hand to Warner Bros. Discovery to pay off part of your debt.