Warner Bros. and Legendary will end their eight-year partnership and bad news for Pacific Rim

June 25th 2013, 9:16am

Variety has learned that Warner Bros. and Legendary Pictures will part ways at the end of their current contract that was originally signed in 2005. It's been a very profitable arrangement for both companies (during that time their films such as Christopher Nolan's Batman series, THE HANGOVER trilogy, INCEPTION, WATCHMEN, THE TOWN and DUE DATE have grossed over $8 billion worldwide) but in the end both sides decided it was time to move on. Three other studios have already shown interest in Legendary (Universal, Fox and Sony) and sources say the film production company hopes to have a deal in place by July 4th.

It's probably best for both sides since Legendary wants to build a larger company that doesn't just cover film but also television, online entertainment and comic books. Although the two companies partnered up for MAN OF STEEL, Warner Bros. wants to take a more "hands on" approach with their DC properties and treat them like the HARRY POTTER franchise. That would mean fully funding these films and that also means more money in Warner Bros' pockets if the film is a big hit.

Another item featured in the report is some pretty terrifying news about the next film from the companies. Early tracking for Guillermo Del Toro's PACIFIC RIM isn't looking too hot and enthusiasm for the film isn't nearly as high as you'd think it would be. In fact GROWN UPS 2 opens the same weekend and audiences are expressing more interested in seeing that film than PACIFIC RIM. Let me repeat that: most people apparently would rather see GROWN UPS 2 than PACIFIC RIM.

Obviously this isn't a good sign for PACIFIC RIM, a film with a budget around $200 million. The low tracking for the film probably explains the most recent media blitz for PACIFIC RIM including this latest trailer. Hopefully if the movie doesn't do too well opening weekend some good word of mouth will give the film legs but if Guillermo Del Toro is serious about wanting to do a sequel the first film needs to make some serious cash.

PACIFIC RIM with Charlie Hunnam, Idris Elba, Rinko Kikuchi and Charlie Day is in theaters July 12th, 2013.