Warner Bros. Discovery CEO David Zaslav is facing intense criticism yet again after the studio disclosed $115 million in abandoned film write-downs in an earnings report on Friday. The news renewed outrage over Zaslav’s strategy of canceling projects for tax benefits, with fans calling for his ousting. The write-offs likely include the scrapped $70 million film Coyote vs. Acme. Warner Bros. initially planned to release the animated Looney Tunes spinoff theatrically in 2023, before new animation leadership decided to shelve it.
Warner Bros. Faces Major Backlash Over $115 Million Tax Write-Downs
Director Dave Green blasted the “devastating” decision last November. After backlash, Warner Bros. allowed him to shop the finished film to other distributors, but its fate remains uncertain. According to The Hollywood Reporter, the $115 million write-down disclosure suggests Coyote vs. Acme is permanently canceled.
Many are expressing anger at Zaslav and Warner Bros. for repeatedly scrapping films solely for tax benefits. “It absolutely depresses me knowing what potential they could’ve had,” one fan wrote. “This film company is such a disaster and the people leading it need to be fired.” Here are some fan reactions:
I hate to think how many promising animated films at Warner Bros were scrapped due to these godforsaken tax write-downs. It absolutely depresses me knowing what potential they could've had. This film company is such a disaster and the people leading it need to be fired. https://t.co/xczsUMmq3b
— Animated Antic (@Animated_Antic) February 24, 2024
Money laundering at its finest
— Nkechi Kwenu (@NkechiKwenu) February 24, 2024
David Zaslav never wanted to help Warner bros, he just wanted to sell it
— Praveer Tiwari (@therealpraveer) February 24, 2024
They need to stop being greedy and release Coyote Vs Acme now
— Michelle Crawford (@Countryfan1985) February 24, 2024
I hate Warner Bros right now.. 😑
— Brotha K (@KessenaO) February 24, 2024
Many argue legacy Looney Tunes characters like Wile E. Coyote deserve careful big-screen treatment.
“We are trying to preserve the integrity & importance of these icon legacy characters,” tweeted voice actor Eric Bauza, part of the #ReleaseCoyoteVsACME campaign.
This echoes the fury after HBO Max films Batgirl and Scoob! Holiday Haunt were infamously canceled for write-downs in 2022. Zaslav’s cutthroat strategy has damaged creative relationships.
What’s Warner Bros.’ Response Amid Calls for Zaslav’s Removal?
The studio claims it is realigning priorities toward theatrical animation releases, with no comment on Coyote vs. Acme’s fate. However many see abandoning finished films as wasteful and unethical. While Zaslav has irked creatives, he’s also built ties with stars like Tom Cruise. But his reputation took another hit with this latest round of mysterious write-downs blind-siding filmmakers.
Tax write-offs provide short-term savings, but constantly alienating talent could backfire over time. Some analysts question if calculated shock-value cancellations truly serve Warner Bros.’ bottom line.
Between outcry over abandoned films and skepticism about the viability of Zaslav’s vision, pressure is mounting for a change in studio leadership. But with a contract through 2027, Zaslav appears firmly entrenched at Warner Bros. Discovery for now.
The latest canceled project furor follows years of turbulence at Warner Bros. But calls for Zaslav’s job signal many see his cutthroat accounting maneuvers harming the iconic studio’s future. For creatives and fans, each mysteriously axed film feels like an unacceptable betrayal.
The latest controversy is just the most recent issue in a long period of problems at Warner Bros. The studio has made many public mistakes and has dealt with a lot of internal disorder and chaos. As movie directors and fans continue to voice anger over projects being canceled for seemingly no good reason, people will likely keep closely examining and criticizing the studio’s leadership.
It’s not clear what the right path forward is, but with creative people losing trust in the current studio bosses, many people feel an urgent restart and shakeup is needed. This is required to regain trust and bring stability back to the studio, which was once highly respected.
