© Courtesy of CJ Entertainment
Warner Bros. Motion Pictures Group and CJ ENM have signed a deal to develop, finance and distribute English language and Korean language features, according to The Hollywood Reporter. The projects will be remakes of each studio’s films.
As part of the new agreement, Warner Bros. will serve as the lead studio on English language remakes of movies from CJ ENM’s library. Meanwhile, Miky Lee’s CJ ENM will take the lead on Korean language films that are inspired by Warner Bros. Pictures’ extensive library.
“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,” Warner Bros. Motion Picture Group’s co-chairs and CEOs Michael De Luca and Pam Abdy said in a statement that was released yesterday.
CJ ENM’s head of film business, Jerry Kyoungboum Ko also chimed in on the deal in his own statement: “Warner Bros. is home to a legendary library that bridges Hollywood of past and present and is steeped in excellence. Warner Bros. and CJ have built extensive libraries across North America and Asia, each in their unique way. This collaboration allows us to uncover and revitalize hidden gems, bringing inspiring stories to today’s audiences. It’s a wonderful privilege to be partnered with an iconic brand that boldly continues to evolve, create and champion storytelling at the highest level.”
Warner Bros. Pictures and CJ ENM will develop and produce their respective remakes. Each studio will also assist on key creative decisions, including a movie’s writer, helmer, producer and cast. The companies will also share oversight on a film’s budget.
Warner Bros. Pictures will distribute the movies around the world. However, CJ ENM will handle the releases on its own remakes in South Korea, Vietnam, Indonesia and Turkey.
Warner Bros. has more than 12,500 feature in its library. Those films include such classic projects from the Golden Age as Casablanca, A Streetcar Named Desire and Rebel Without a Cause. The studio’s more recent movies include the Oscar-nominated Harry Potter series and last year’s Academy Award-winning Barbie.
As a leader of the Korean movie wave, Lee has championed Korean directors like Park Chan-wook and Bong Joon Ho. Lee has also executive produced such projects as Lady Vengeance, Past Lives, The Host, Snowpiercer and The Handmaiden.
The vice-chairman of CJ Group, which is Korea’s largest media and entertainment conglomerate, also served as an executive producer on Parasite. The project was the first non-English-language film to win the Oscar for Best Picture.
If you liked this article, please share your comment below.