Texas Congressman Warns Warner Bros. Discovery of Predatory Actions
Texas congressman Joaquin Castro has taken to social media to publicly criticize Warner Bros Discovery for canceling the $70 million film “Coyote vs. Acme” for a $30 million tax writeoff. Castro accused Warner Bros. Discovery of predatory and anti-competitive behavior and called on the Justice Department and the FTC to review their antitrust guidelines.
This public condemnation from Castro comes after Warner Bros. Discovery announced plans to screen the finished film for potential buyers, including Amazon Prime, Apple, and Netflix. The decision to cancel the film led to backlash from the creative community and online outcry from the film’s composer, Steven Price.
While Warner Bros. has not released a statement in response to Castro’s criticism, sources have indicated that the decision to axe the film was made by Warner Bros. Motion Picture Bosses Michael De Luca and Pam Abdy, and new animation head Bill Damaschke. According to sources, the decision was due to cost-cutting measures and a desire to avoid taking on the financial burden of the previous administration’s greenlights.
While the criticism of the cancellation continues, sources within the entertainment industry express concern about Warner Bros. Discovery’s approach to greenlighting and canceling projects. Some have suggested that the current administration is trying to protect the Looney Tunes brand, while others worry that the studio is becoming known as a must-avoid for talent and filmmakers.
Castro’s criticism of Warner Bros. Discovery is not new. In April, he was one of four Democratic lawmakers who called on the Justice Department to investigate the company’s post-merger practices, alleging that the merged company has harmed workers and reduced consumer choice.
As the situation continues to unfold, industry insiders are closely watching Warner Bros. Discovery and the decisions being made by studio leadership.