After the shocking cancellation of bat girl which was pretty much unexpected for fans of DC, Warner Bros. Discovery reportedly intends to use the film as a tax deduction. After years of mismanaging the WB and the DC Universe, David Zaslav has taken serious steps to change the fate of the company. Earlier, the film’s director opened up and claimed that Warner Bros Discovery allegedly “blocked” their access to the images after the disposal of the film.
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Discovery’s post-merger tax options have a good advantage in removing the film as a tax deduction altogether, and that could be the main reason. The film starred Leslie Grace as Barbara Gordon and was due for release later this year and even featured the return of Michael Keaton as Batman.
A big tax deduction could be a reason behind the scrapping of the $90 million Batgirl movie
There is a term called “Hollywood Accounting” what are often referred to as the budgetary and fiscal strategies used by film studios. It depends on some unique reasons related to how movies are developed and monetized, including taxes, which opens up plenty of opportunities for studios to minimize costs as much as they want. Simply put, accounting is the practice of recording assets and rights for financial, legal and even tax purposes.
Warner Bros. Discovery may destroy all footage of ‘BATGIRL’ to demonstrate to the IRS that there will never be any revenue from the film, and may immediately receive full tax relief, but some believe this is unlikely.
(Source: https://t.co/4dlK4YHQHM) pic.twitter.com/F0S6UKzdoo
— DiscussingFilm (@DiscussingFilm) August 24, 2022
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It’s a very common ritual in the industry of spending a lot of money on movies that should be bombed, then they can report a huge loss and use it to get rid of their tax burden.
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How Batgirl Represents a Rare Tax Opportunity for Warner Bros. Discovery?
Previously, there have been the same cases where films are canceled or directly destroyed so that they can be used as a tax deduction, and the same case could have happened with Bat girl. There is a point to note that, bat girl would be even more expensive with a theatrical release as the cost of distribution and marketing would add more revenue to its budget. Scrapping it was the best option for them and destroying it completely could provide the company with a good deduction on this year’s federal income tax return.
Source: Twitter
