Warner Bros. Pictures will take an equity stake in Spyglass Media Group, the new content company launched by former Metro-Goldwyn-Mayer chief Gary Barber. Along with the investment, Spyglass has inked a first-look arrangement to provide content to the Hollywood studio.
Barber is a close friend of Kevin Tsujihara, the former Warner Bros. Entertainment CEO who was forced to resign last month in the wake of a report that found he allegedly used his position to secure auditions for a woman with whom he was having an affair. But Barber’s history with the studio dates back some three decades, extending to his time as vice chairman of Morgan Creek, the production company that worked with Warners on “Robin Hood: Prince of Thieves” and “Ace Ventura.” As the head of MGM, he worked with the studio on the distribution of “The Hobbit” films and “Creed.”
“For many years, Warner Bros. has been a dedicated studio partner and we have shared numerous successes together,” Barber said in a statement. “Their confidence in Spyglass’ brand and vision is invaluable as we continue to build a premier content company. I look forward to our future collaborations together.”
“We have a long, successful relationship with Gary and we’re excited to be in business with him at Spyglass,” Warner Bros. Pictures Group chairman Toby Emmerich said in a statement. “We’re looking forward to exploring the creative opportunities Spyglass has to offer.”
Spyglass Media Group investors include the hedge fund Lantern Entertainment, foreign distributor Eagle Pictures, and the exhibition chain Cineworld Group. Through Lantern, Spyglass has access to the former Weinstein Company library, which includes “The King’s Speech,” “Inglourious Basterds,” and “Scream.”