Film distributor Ketchup Entertainment recently saved The Day the Earth Blew Up: A Looney Tunes Movie from being shelved for tax write-off purposes and the company will now do the same for Coyote vs Acme.
The two film companies had been in negotiations for the last few weeks, but a deal has now been officially struck.
Ketchup Entertainment purchased Coyote vs Acme for $50 million and plans to release the film in 2026. The film has a reported production budget of $70 million.
WB Discovery CEO David Zaslav was originally said to be seeking the film's full production budget from potential buyers.
It should be noted that as a live-action/animation hybrid film, Coyote vs Acme has a much higher production budget than The Day the Earth Blew Up: A Looney Tunes Movie ($15 million).
To date, The Day the Earth Blew Up: A Looney Tunes Movie has grossed $10.45 million worldwide, with $8.06 million of that coming from the domestic box office.
In a press release, Ketchup Entertainment CEO Gareth West stated, "We’re thrilled to have made a deal with Warner Bros. Pictures to bring this film to audiences worldwide."
"Coyote vs. Acme is a perfect blend of nostalgia and modern storytelling, capturing the essence of the beloved Looney Tunes characters while introducing them to a new generation. We believe it will resonate with both longtime fans and newcomers alike."
With Coyote vs Acme now saved, fans are now hoping for a similar outcome for Batgirl and Scoob! Holiday Haunt- both were also canceled by WB Discovery CEO David Zaslav for tax write-off purposes.
Coyote vs Acme is a mix of animation and live-action, similar to Space Jam and Who Framed Roger Rabbit. Along with the Coyote and Road Runner, the film was set to star Will Forte, John Cena and Lana Condor.
The plot centered on the Coyote suing the Acme corporation after years of failed products that prevented him from apprehending the Road Runner and sometimes getting seriously hurt in the process. Forte was set to play Wile E.'s lawyer, while Cena would have played Acme's CEO.
Directed by Dave Green, Coyote vs Acme is produced by Chris deFaria and James Gunn with a screenplay by Samy Burch.