Warner Bros. & # 39; Kevin Tsujihara going out as Studio Chief

He has been leading the Burbank studio since 2013.

Kevin Tsujihara leaves his role as CEO and CEO of Warner Bros. Entertainment, a job he has been holding for six years.

"It is in the best interest of WarnerMedia, Warner Bros., our employees and our partners for Kevin to go down as the manager and CEO of Warner Bros.", said WarnerMedia, CEO John Stankey Monday. The executive man did not mention a replacement for Tsujihara.

Stankey added: "Kevin has contributed greatly to the studio's success over the last 25 years, and for that we thank him. Kevin acknowledges that his mistakes are incompatible with the company's leadership skills and may affect the company's ability to drive forward. "

In a Hollywood Reporter article March 6, text messages between executive and Charlotte Kirk showed that Tsujihara said he would push for auditions for the actor among a seemingly sexual relationship he had with Kirk. in two Warner Bros. movies: 201[ads1]6 s How to be Single and 2018 Ocean's 8 . Tsujihara Personal Lawyer stated, "Mr. Tsujihara had no direct role in the appointment of this actress. "An external law firm continues to investigate the allegations against Tsujihara.

In a separate note, Tsujihara sent to Warner staffs today, after reflecting on" how to pay attention to mine. past actions could affect the company's future, "had decided to go down. He added that" it has become clear that my continuing leadership can be a distraction and an obstacle to the company's continued success. The hard work of everyone in our organization is truly admirable and I will not let the media's attention on my past detract from all the great work the team does. "

Tsujihara's resignation comes as John Stankey, named CEO of WarnerMedia in 2017, puts his stamp on the company in the wake of AT & Ts's $ 85 billion to $ 105 billion acquisition of Time Warner, which was approved last year and then maintained by a federal complaint court last month In a major reorganization, announced on March 4, Tsujihara had been given additional responsibilities, including overseeing a new youth and youth activity that brings together family, child and animation businesses throughout WarnerMedia, including Cartoon Network Adult Swim and Boomerang In addition, Otter Media, Turner Classic Movies and all licensed consumer product development activities for WarnerMedia properties were added to their portfolio.

Tsujihara, 54, the first Asian downhill practitioner to lead a major Hollywood studio, promoted to his current record, after Time Warner, Chairman and CEO, Jeff Bewkes, was arrested posted a monthly executive department among Tsujihara, who at that time monitored home entertainment, Warner Bros. TV President Bruce Rosenblum and Warner Bros. Pictures President Jeff Robinov. After the Tsujihara hill, both Robinov and the Rosenblum left the company.

During Tsujihara's tenure, Warners had settled to show DC superhero movies that matched the success of Disney's Marvel label until it struck a winning formula with the 2017 century Wonder Woman directed by Patty Jenkins and starring Gal Gadot, who took $ 821.8 million worldwide. Then it enjoyed an even greater success with last year's Aquaman directed by James Wan, starring Jason Momoa, who has raised $ 1.1 billion worldwide, and enlarges all of Warners & # 39; former superhero films, including those in Christopher Nolans Dark Knight trilogy.

Tsujihara is also credited with courting JK Rowling for a series of Harry Potter spinoff movies. The first fee, Fantastic Beasts and Where To Find Them cost $ 814 million in 2016, although its 2018 successor Fantastic Beasts: Grindelwald's crimes stood at $ 653.4 million. A third deal was slated for 2021. In January last year, Tsujihara made Toby Emmerich, who had previously led the studio's New Line unit before becoming president of the studio in 2017, in charge of the film group. Last year, the studio turned to $ 5.8 billion in worldwide grosses office to record its biggest year ever.

Tsujihara approached Brett Ratner's RatPac-Dune Entertainment to help fund a flat film, and struck a four-year deal in 2013 for $ 450 million in funding for 75 features. After Ratner was charged with sexual defaults in 2017, the studio cut down with the manufacturer and chose not to renew the RatPac-Dune deal last year, and found other sources of funding as an agreement with Bron Studios to co-finance six films. As AT & T gets ready to offer his own WarnerMedia streaming service next year, Warner recently acquired RatPac-Dune minority share in such films as Wonder Woman Dunkirk and It ] for $ 290 million.

Tsujihara has also taken a leading role in negotiating with theater owners to allow premium viewing of home movies.

On the television side, Tsujihara left the day-to-day management of the studio's sprawling portfolio to corporate business Peter Roth, but his track record remains a spring in Tsujihara's cap. The studio is responsible for half of the youth researching CW network, the reigning broadcast comedy The Big Bang Theory and distributes syndicated mega-hit Ellen DeGeneres – as well as dozens of original scripts and non-written series. It remains a talent for talent, and recently launched universal loyalist Mindy Kaling for a generous deal.

WarnerMedia's play for its own streaming platform has produced a particularly interesting story on the TV page, which shines a light on the studio's deep library of hits – as valuable as the new offering in today's climate. For example, despite a recent expansion with Netflix, Friends Warner Bros. Crown Jewel, it is ultimately expected to stream exclusively on the upcoming platform.

Tsujihara joined Warners in 1994 as director of special projects, finance, to assist in managing the company's interest in Six Flags. In almost two decades with the company, he has served as executive executive, business development and strategy at Warner Bros. Entertainment and executive VP, new media, responsible for monitoring all of Warner Bros.'s new media. He took on experience managing home video, digital distribution, video games, and new technology, when he was appointed president of Warner Bros. Home Entertainment Group in 2005.

Tsujihara's note follows:

Dear Colleagues, ]

Over the past one and a half years I have reflected on how the attention to my past actions can affect the company's future. After long introspection and discussions with John Stankey during the last week, we have decided that it is in Warner Bro's interest that I go down as a board member.

I love this company and the people who do so well. I have been honored to lead this organization and work with all of its talented employees for the past 25 years. Together, we have built this studio into an unequivocal leader in the industry.

However, it has become clear that my continued leadership could be a distraction and an obstacle to the company's continued success. The hard work of everyone in our organization is truly admirable and I will not let the media's attention on my past detract from all the great work the team does.

I am overwhelmed and grateful for the exhaustion of support I have received from colleagues and industrial partners in this difficult time.

Again, I am so proud of the great work you do every day to make Warner Bros. the gold standard in our industry. It has been a pleasure to work with each one of you, and I wish you the very best.

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