Warner Bros. Discovery Trying to Sell Film and TV Music Rights for Half a Billion

Since their landmark merger in 2021, the business decisions of Warner Bros. Discovery have gotten quite a bit of the spotlight. According to a new report, their latest possible move might make a major change to their iconic library of film and television music. On Thursday, a report from Hits revealed that Warner Bros. Discovery is looking to sell roughly half of its film and TV music-publishing assets. A subsequent report from Variety confirmed the negotiations, and that the library would reportedly go for approximately $500 million. A lot of details are left under wraps — including which label could ultimately get the assets — although Sony is "said to be in the lead." It had been reported earlier this year that Warner Bros. Discovery was considering selling part of the catalog.

While it is unclear which assets of the deal might be sold, Warner Bros. music library includes the studio's fanfare, Casablanca's "As Time Goes By", as well as multiple Batman themes, and songs from Purple Rain, Evita, Sweeney Todd, and Rent. Sources cited in Variety's reporting indicate that the assets that might be sold could end up being very few of these major songs, and would instead largely consist of film themes and cues from much older films. 

Will Warner Bros. shut down TCM?

In recent days, conversation and speculation have swirled around the fate of Turner Classic Movies, the beloved cable network and brand. After a number of employees exited from the company, including executive VP and general manager Pola Chagnon, who had been with the company for 25 years. Directors Steven Spielberg, Martin Scorsese, and Paul Thomas Anderson held an emergency meeting with WBD CEO David Zaslav about the issue. Late Wednesday night, the trio released a statement indicating that they are optimistic about TCM's future, and its continued efforts to celebrate and curate films from the better part of the past century.

"Turner Classic Movies has always been more than just a channel," the directors' statement reads. "It is truly a precious resource of cinema, open 24 hours a day seven days a week. And while it has never been a financial juggernaut, it has always been a profitable endeavor since its inception. Earlier this week, David Zaslav, the CEO of Warner Bros. Discovery, got in touch to talk about the restructuring of TCM. We understand the pressures and realities of a corporation as large as WBD, of which TCM is one moving part."

"We have each spent time talking to David, separately and together, and it's clear that TCM and classic cinema are very important to him," the statement continues. "Our primary aim is to ensure that TCM's programming is untouched and protected. We are heartened and encouraged by the conversations we've had thus far, and we are committed to working together to ensure the continuation of this cultural touchstone that we all treasure."

What do you think of Warner Bros. Discovery potentially selling part of its music library? Share your thoughts with us in the comments below!