When you're in the entertainment industry, loyalty may be a powerful tool. That kind of faith, though, can only go you so far, and Warner Bros. appears to have put that confidence to the test. New CEO David Zaslav's no-nonsense approach to operating the corporation is in full effect, with him attempting to cut the fat and canceling the development of planned films at the studio. That's why he's said to have been upset when he learned that Clint Eastwood's disaster Cry Macho was made despite executives' predictions that movie wouldn't do well at the box office.According to reports, this was revealed during an early discussion between Zaslav and other studio execs. The Wall Street Journal said that Warner Bros. brass approved Cry Macho to be made despite an estimated loss of millions of dollars. What are the reasons for this? Not only had Eastwood been a high-profile actor/director who brought the studio big hits like the Dirty Harry films and Unforgiven, but he had also never gone over budget and always delivered on time, according to reports. Unimpressed by this response, David Zaslav reacted as follows:
That comment is more more poignant in light of the fact that all of the obvious worries about Cry Macho's box office performance were proven to be completely right. Clint Eastwood's latest picture only made roughly $15.5 million during its theatrical run, despite a modest $33 million budget. Cry Macho's simultaneous premiere on HBO Max, as part of a series of films testing the waters for the future of movie presentation, didn't help matters.
David Zaslav got right to work cleaning house after the recent Warner Bros. and Discovery merger was completed. Not only did Zaslav cancel the Wonder Twins film, but he also halted written programming on TNT and TBS. While David cites a business ethic that fans of Tom Cruise's Jerry Maguire are familiar with in the profile referenced above, he also believes in recruiting talent that has brought glory to the Warner Bros. lot:
People are undoubtedly asking how far David Zaslav's business approach at Warner Bros. goes in terms of brand and personality devotion in his decision-making. That's a particularly compelling question in light of Zaslav's recent meeting with J.K. Rowling, the creator of the Wizarding World property. With the last two Fantastic Beasts films underperforming at the box office, especially when compared to the franchise's previous efforts, that gap might be significant in a post-Harry Potter world. In fact, it's likely the most critical aspect in determining whether or not a Fantastic Beasts 4 will be released in cinemas or on HBO Max.
Even on the Warner lot, the power of loyalty is a debate that cuts both ways. We saw that link challenged and eventually ruptured between the studio and Christopher Nolan in the pre-Zaslav era. Because of the simultaneous streaming trial in 2021, Nolan broke up with Warner Bros. and gave his next film, Oppenheimer, to Universal, a competing studio. Even though David Zaslav is said to believe that the company owes no favors to its creators, I'm sure losing the director would hurt.
At Warner Bros., a new era has begun, and I'm excited to see where this new leadership will take the company. If you haven't seen Cry Macho or Fantastic Beasts: The Secrets of Dumbledore yet, both films are presently available to watch on HBO Max. Meanwhile, Baz Luhrmann's Elvis, which made a divisive debut at Cannes, will be Warner Bros' next test of cinematic marketing. On June 24th, the film will be released in theaters.
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