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Longtime producer Joel Silver has been given the axe from Warner Bros.

Sep. 25, 2012by: Niki Stephens

Oh how the mighty have fallen...

Producer Joel Silver and Warner Brothers have put their 25-year relationship to an end. Silver isn't leaving empty handed, but he's giving the studio what they want, and then some.

Silver is being paid $30 million for the rights to 30 films under his Silver Pictures banner. This means that he will no longer collect any money from films like THE MATRIX, LETHAL WEAPON, ans SHERLOCK HOLMES. As it turns out, he actually owes the studio a ton of cash.

The studio gave Silver advances on films based on a percentage of the box office the pics were expected to earn. This was done for very few producers. Needless to say, some of Silver's flicks didn't do so well. Other things the studio paid for: "staff of 20 employees, including a personal driver and projectionist for his home theater, and housed him in two bungalows on the lot, once occupied by Richard Donner. " Naturally, all Silver could do if he wanted anything out of the deal was bend over and take it.

How did they come to the $30 million dollar conclusion? There was some hardcore math that, "considers the future earnings of the Silver Pictures library and after the outstanding debt -- which was not disclosed -- is subtracted. That includes hits like "Swordfish," "Book of Eli," "Demolition Man" and "Executive Decision," but also pricey misfires. Analysts say most of the titles already have generated as much as they can from various distribution platforms."

Don't feel too bad for him though. Silver is working up a five-year deal with Universal for 12 films under another banner inside of Silver Pictures. However, Silver must come up with the financing himself. He will also be allowed to make deals with other studios, and will collect $7 million per film. Another angle to add to the equation is that investors will not be taking any risky bets. So basically it better make money or he isn't making shit.

As of now, Silver is renovating new office space for Silver Pictures inside of what once was a Venice Post Office. Life is tough, huh?

Source: Variety

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+3
11:03AM on 09/26/2012
Kinda torn on this. On one hand, he produced some of my favorite action movies. The other hand, maybe he'd still be with Warners Bros if he hadn't released a handful of crap. In the end, I'm sure he'll be fine. He also served as the inspiration for the movie producer in True Romance.
Kinda torn on this. On one hand, he produced some of my favorite action movies. The other hand, maybe he'd still be with Warners Bros if he hadn't released a handful of crap. In the end, I'm sure he'll be fine. He also served as the inspiration for the movie producer in True Romance.
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6:47AM on 09/26/2012
He is the king of R-rated action flicks.
I'll always be thankful he allowed the Watchowskis to keep the Matrix films R-rated, even though he coulda shaved a measly few frames and watered it down to PG-13. Respect.
He is the king of R-rated action flicks.
I'll always be thankful he allowed the Watchowskis to keep the Matrix films R-rated, even though he coulda shaved a measly few frames and watered it down to PG-13. Respect.
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+4
2:42AM on 09/26/2012
Damn, he pretty much was involved in every movie I loved and guaranteed a good time everytime he was mentioned in the credits. Just look what the guy produced: Die Hard, Lethal Weapon, Commando, Predator, Last Boy Scout...The man represented the balls to the wall action genre of the 80s like no one else. And now hes getting axed? Shame on you, Warner Bros. !!!
Damn, he pretty much was involved in every movie I loved and guaranteed a good time everytime he was mentioned in the credits. Just look what the guy produced: Die Hard, Lethal Weapon, Commando, Predator, Last Boy Scout...The man represented the balls to the wall action genre of the 80s like no one else. And now hes getting axed? Shame on you, Warner Bros. !!!
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2:13AM on 09/26/2012
I bet him denying Joss Whedon's Wonder Woman script played a big part in this decision. Or at least I'd like to believe that.
I bet him denying Joss Whedon's Wonder Woman script played a big part in this decision. Or at least I'd like to believe that.
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5:17AM on 09/26/2012
Yeah I bet Warner's are kicking themselves about that after the success of "The Avengers".
Yeah I bet Warner's are kicking themselves about that after the success of "The Avengers".
9:56PM on 09/25/2012

That's too bad.

I loved him in Indiana Jones and Lord of the Rings.
I loved him in Indiana Jones and Lord of the Rings.
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10:10PM on 09/25/2012
LMAO
LMAO
12:01AM on 09/26/2012
This made me laugh so hard.
This made me laugh so hard.
2:44AM on 09/26/2012
Best strike back comment in a long time LOL
Best strike back comment in a long time LOL
9:41PM on 09/25/2012
Sucks this didnt happen before he booted Tom Jane off "Bullet to the Head".
Sucks this didnt happen before he booted Tom Jane off "Bullet to the Head".
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11:26PM on 09/25/2012
I was gonna say it if you didn't.
I was gonna say it if you didn't.
8:57PM on 09/25/2012
Well, I hope Mr. Silver knows how to save up money and not to spend them all.
Well, I hope Mr. Silver knows how to save up money and not to spend them all.
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