WarnerMedia has formally announced its mega-deal with “Lost” creator and “Star Wars: The Force Awakens” director J.J. Abrams and his Bad Robot production company following an intense courtship that had many studios and streaming services – including Disney, Apple, and Comcast – trying to woo him.
Bad Robot will now make movies, shows, games, and other entertainment content for the company and is said to commence immediately and run through to 2024. The deal has been valued at $500 million and could be worth more if certain performance-related targets are reached, though financial terms of the deal were not formally disclosed.
The deal offers Abrams the ability to spread his work over a broad array of content from traditional theatrical releases to streaming and video games. Bad Robot previously had a film deal set up at Paramount, but has had a long relationship with Warners on the television front. Here’s the official statement from WarnerMedia:
“We are extremely excited about the potential to deliver remarkable and memorable stories and characters across multiple platforms to audiences around the world. J.J., Katie and all of Bad Robot bring extraordinary vision, exquisite filmmaking, and exemplary industry leadership to this endeavor and our company. Across all forms of content, we are uniquely positioned to offer our creative partners a multitude of platforms to realize their artistic goals and ambitions, and to ensure that their stories have the best possible opportunity to connect with the right audience.”
WarnerMedia also confirmed that Bad Robot will honor existing obligations to Paramount.