Is James Packer Dumping RatPac-Dune Entertainment?
James Packer, an owner of RatPac Entertainment, is looking to sell his share in the company. The news comes after Donald Trump’s Secretary of the Treasury nominee Steve Mnuchin announced that he would sell his share in RatPac Entertainment should he be confirmed.
Jewish filmmaker Bret Ratner is another owner of RatPac Entertainment. Ratner has directed movies like X-Men: The Last Stand, Red Dragon and Rush Hour.
Variety got the scoop on the James Packer story. The publication reports that “four individuals with knowledge of the matter” have confirmed that the Australian billionaire who was at one point engaged to marry Mariah Carey is looking to dump his shares in the company. But it also said that a rep for RatPac Entertainment has denied the rumor.
“Both Brett Ratner and James Packer are absolutely, unequivocally staying in their investment deal with Warner Brothers,” a spokesperson for the partners, who added that the two men remain close and have no reason to sever their business ties, told Variety. “James is very involved. He and Brett are partners,” said the representative. “Nothing gets done without the two of them. They are very good friends. And James is not going anywhere.”
RatPac Entertainment is a global media and entertainment company formed by internet, media and resort investor James Packer and Hollywood producer and director, Brett Ratner, whose motion pictures have grossed in excess of $2 billion. Since inception, RatPac has co-financed over 50 theatrically released motion pictures exceeding $10 billion in worldwide box office receipts.
RatPac’s Entertainment co-financed films have been nominated for 51 Academy Awards, 39 BAFTAs, 20 Golden Globes, 5 Emmys, and 8 Australian Academy Awards and have won 21 Academy Awards, 17 BAFTAs, 7 Golden Globes and 3 Australian Academy Awards. In 2013, RatPac partnered with Dune Entertainment on a multi-year motion picture co-financing arrangement with Warner Bros. for up to 75 pictures. RatPac has also partnered with New Regency on numerous films including the Academy Award Winning Birdman and The Revenant and the upcoming Ubisoft-inspired Assassin’s Creed, as well as the first-look arrangement with Brad Pitt’s production house Plan B.Read more about: Brett Ratner, James Packer, RatPac Entertainment, Steve Mnuchin