The Weinstein Co. has sold the North American distribution rights to Paddington 2 to Warner Bros., shedding its biggest upcoming release.
Warner Bros. on Wednesday announced that it acquired the animated sequel, due out January 12. Several studios had engaged on bidding for the film, which follows the $268 million (Dh984 million) grossing 2014 original based on Michael Bond’s famous children’s books.
The Weinstein Co. has been moving to sell off its most lucrative assets in the wake of the sexual assault allegations against its former co-chairman, Harvey Weinstein. The sale gives The Weinstein Co. a much-needed infusion of cash, with the price exceeding $30 million.
Paddington Producer David Heyman earlier said he intended that the Weinstein Co. name to be “nowhere near” Paddington 2.
The film was wholly financed by Studiocanal.