J.J Abrams and his wife Katie McGrath have signed a multi-year deal between their production company Bad Robot and WarnerMedia that will run until 2024. According to the Hollywood Reporter, the exclusive deal is reportedly worth up to $250 million and will include movies, shows, games, and other entertainment produced by Bad Robot for WarnerMedia.
With news breaking out Thursday that Abrams has been secured for the foreseeable future, his signing sets the market for top talent within the industry including studios like Disney, Comcast and Apple looking for someone to lead their entertainment divisions. The deal has potential to reach pass those numbers though, with performance-related goals and incentives capable of pushing past $500 million and making their pact a very lucrative deal.
WarnerMedia Chief John Stankey flew out to London last fall to start his pitch, enticing Abrams with the idea that their studio can be a platform where he can exercise all the ideas he has in regards to filmmaking. “We are extremely excited about the potential to deliver remarkable and memorable stories and characters across multiple platforms to audiences around the world. J.J., Katie and all of Bad Robot bring extraordinary vision, exquisite filmmaking, and exemplary industry leadership to this endeavor and our company,” Stankey said in a statement.
One of Abrams demands was that he was not to be restrained in the types of movies he wants to pursue. Bad Robot had a deal in place with Paramount, but Abrams has had a relationship at least on the TV front with Warner since 06′. Bad Robot will continue to honor any existing obligations the production company had with previous companies like Paramount and Disney.