Warner Bros. has agreed to a deal with Ketchup Entertainment to give its embattled Looney Tunes movie a theatrical run.
what’s the legal implications of this? They canned it as a tax write off, they wrote off the tax, now they’re going to profit off it?
I know WB doesn’t have to obey the law because it’s a huge corporation, but I’m sure there’s some laws being broken.
Yeah, I remember when this originally went down seeing something about how if they used that write-off it meant that the film could never be distributed afterwards. The way things are now I wouldn’t be surprised if they sold it and kept the write-off anyways since that was a different fiscal year.
I’m sure they can un write something off. The IRS would be more than happy to get the tax back.
And do we even know if they wrote it off in the first place? Any WB accountants here?
