Congressman Calls for FTC to Review Warner Bros. for Scrapping Films Like Coyote vs. Acme
U.S. congressman Joaquin Castro is calling for a federal investigation of Warner Bros. Discovery for what he calls its “predatory” practice of scrapping projects, including the most recent project getting canned, Coyote vs. Acme.
The @WBD tactic of scrapping fully made films for tax breaks is predatory and anti-competitive.
As the Justice Department and @FTC revise their antitrust guidelines they should review this conduct.
As someone remarked, it’s like burning down a building for the insurance money. https://t.co/Vb8vj3brD7
— Joaquin Castro (@JoaquinCastrotx) November 14, 2023
In a post on the social media website X/Twitter, the Texas representative criticized Warner Bros. Discovery for opting to cancel the film in favor of a $30 million tax break.
“The WBD tactic of scrapping fully made films for tax breaks is predatory and anticompetitive,” Representative Castro wrote. “As the Justice Department and FTC revise their antitrust guidelines, they should review this conduct.”
Warner Bros. has no comment regarding Representative Castro’s recent statement.
Castro has previously called out Warner Bros. Discovery for its “anticompetitive practices,” co-writing a letter last April asking the Justice Department to investigate the “affected labor and consumer markets” following the merger of Warner Bros. and Discovery Inc. in 2022.
Warner Bros. announced last week that it was scrapping the film entirely despite having finished filming. Many filmmakers and fans expressed disappointment and criticized Warner Bros. Discovery for ditching the film entirely despite it being nearly done. Those who have seen the film praised it, with Scott Pilgrim co-creator BenDavid Grabinski calling it “the best of its kind since Roger Rabbit.”
Yet, Coyote vs. Acme was the latest casualty of near-complete Warner Bros. films to be scrapped entirely in favor of tax write-downs, joining Batgirl and Scoob! Holiday Haunt, which suffered similar fates.
Yet, a glimmer of hope came just a day prior when it was reported that Warner Bros. allowed the filmmakers to shop Coyote vs. Acme around to other studios, with Deadline reporting that screenings are being set up for Prime Video, Apple, and Netflix this week.
Taylor is a Reporter at IGN. You can follow her on Twitter @TayNixster.
Author: Taylor Lyles. [Source Link (*), IGN All]