By Warner Bros. Motion Picture Group has reportedly closed a deal with CJ ENM to develop, finance and distribute English-language and Korean-language remakes of each other’s films.
Under this agreement, Warner Bros. Motion Picture Group will spearhead English-language remakes of CJ ENM’s library, while CJ ENM will pursue Korean-language adaptations of Warner Bros. films.
Each studio will develop and produce their respective remakes, but the other company will provide input on creative decisions such as cast, crew and budget. Warner Bros. Pictures globally distribute all films aside from South Korea, Vietnam, Indonesia and Turkey where CJ ENM will distribute.
Warner Bros. Motion Picture Group’s co-chairs and CEOs Michael De Luca and Pam Abdy say in a statement:
“Miky Lee, CJ vice chairwoman, and the team at CJ ENM have built an enviable slate of films over its history to become a powerhouse producer of Korean cinema, with films that resonate with audiences across the globe. We are excited to have the opportunity to work with CJ ENM as we look to expand Warner Bros. Motion Picture Group’s movies offerings around the world.”
CJ is Korea’s largest media and entertainment conglomerate with a film library that includes lauded films such as Celine Song’s “Past Lives”; Kore-eda’s “Broker,” Bong Joon Ho’s “Parasite,” “Snowpiercer” and “Memories of Murder”; and Park Chan-wook’s “The Handmaiden” and “Sympathy for Mr. Vengeance.
Warner Bros. Pictures meanwhile has more than 12,500 feature films in its library ranging from “Harry Potter” to “Casablanca,” “The Goonies” to “Batman”.
Source: Variety
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