Warner Bros has confirmed it will not release Coyote vs Acme, a $70 million film starring John Cena that it has already wrapped, for tax reasons.
The action/animation hybrid movie tested well with trial audiences and was called “excellent” by another director. But Warner Bros has reportedly shelved the project to claim an estimated $30m tax write-down, a financial move that reduces the value of an asset for tax and accounting purposes.
Will Forte and Lana Condor are also in the film, which was directed by Dave Green. Warner Bros, the studio behind Barbie and the Dark Knight franchise, also wrote off completed films Batgirl and Scoob! Holiday Haunt.
“With the re-launch of Warner Bros Pictures Animation in June, the studio has shifted its global strategy to focus on theatrical releases,” it said.
“With this new direction, we have made the difficult decision not to move forward with Coyote vs Acme. We have tremendous respect for the filmmakers, casts and crew, and are grateful for their contributions to the film.”
Had a lot of fun scoring Coyote Vs Acme. As no-one will be able to hear it now, due to bizarre anti-art studio financial shenanigans I will never understand, here is a bit of behind the scenes footage of our “Meep Meep” Roadrunner choir, with apologies to Tchaikovsky… pic.twitter.com/HL7h00rXpp
— Steven Price (@SteveBPrice) November 10, 2023
In the film, Wile E Coyote, the Looney Tunes character, takes legal action against US supermarket chain Acme after its products did not prevent his repeated humiliation in pursuit of nemesis Road Runner. It is based on a New York Times article of the same name by Ian Frazier, released in 1990.
The cancellation sparked a negative backlash online. It has been reported that Warner Bros has recorded a $417 million net loss in its quarterly earnings. All three shelved projects were green lit by Jason Kilar before being pulled by his successor as chief executive, David Zaslav.
The film’s composer, Steven Price tweeted: “Had a lot of fun scoring Coyote Vs Acme… no-one will be able to hear it now, due to bizarre anti-art studio financial shenanigans I will never understand.”
I have seen this movie and it is excellent. It also tested in the high 90s repeatedly. It also had interested buyers. The people working at Warner Bros are anti-art and I hope multiple anvils drop on their heads. https://t.co/eS6C7wr34s
— Brian Duffield (@BrianDuffield) November 9, 2023
Screenwriter Gary Whitta added: “Can’t get my head around this. By all accounts COYOTE VS ACME is terrific. It’s based on one of WB’s crown jewel properties. Fantastic premise. John Cena. Co-written/produced by James Gunn. There’s been nothing like it since WHO FRAMED ROGER RABBIT? And they just… threw it away.”
Brian Duffield, the director of Spontaneous, said: “I have seen this movie and it is excellent. It was also tested in the high 90s repeatedly. It also had interested buyers. The people working at Warner Bros are anti-art and I hope multiple anvils drop on their heads.”
