Rep. Joaquin Castro Calls Warner Bros. Discovery 'Predatory' for Shelving 'Coyote vs. Acme,' Asks Justice Dept. to 'Revi [View all]

Source: Variety

Nov 14, 2023 2:28pm PT

Rep. Joaquin Castro Calls Warner Bros. Discovery ‘Predatory’ for Shelving ‘Coyote vs. Acme,’ Asks Justice Dept. to ‘Review This Conduct’

By Jaden Thompson

Congressman Joaquin Castro has taken to X/Twitter to call out Warner Bros. Discovery for planning to shelve the completed film “Coyote vs. Acme” for the sake of receiving a $30 million tax break. Amid backlash against the studio, WBD has since put the film on the market in an effort to shop it to other potential distributors.

“The @WBD tactic of scrapping fully made films for tax breaks is predatory and anti-competitive,” Castro wrote on X. “As the Justice Department and @FTC revise their antitrust guidelines they should review this conduct.”

The Texas Democrat concluded his message by saying, “As someone remarked, it’s like burning down a building for the insurance money.”

“Coyote vs. Acme” is a live-action animation hybrid from WBD’s “Looney Tunes” universe, featuring Lana Condor and John Cena. Shooting concluded in 2022 with a $70 million budget.

“Coyote vs. Acme” marks the third instance in less than two years in which WBD has announced its plan to withhold a fully completed film’s release in order to get a tax break. ...

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Read more: https://variety.com/2023/film/news/joaquin-castro-warner-bros-discovery-coyote-vs-acme-1235790855/

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