STOCK PHOTO | Image by Starline from Magnific

PARAMOUNT Skydance Corp.’s film studio and Warner Music Group Corp. will partner to make movies for theaters based on the lives of famous singers and bands, the companies said in a joint statement last Thursday.

Warner Music’s roster includes artists such as Madonna, Frank Sinatra, Cher, Fleetwood Mac, and David Bowie.

The multiyear deal bolsters the pipeline of potential films at Paramount Pictures, which has doubled its movie output since Paramount’s acquisition by David Ellison’s Skydance Media last year.

Led by Dana Goldberg and Josh Greenstein, the studio has signed several deals in recent months that give it first crack at ideas from talents such as directors Jon M. Chu and Dan Trachtenberg as well as actors Issa Rae and Will Smith.

Paramount has also agreed to acquire Warner Bros. Discovery Inc. in a $110-billion transaction that’s expected to close in the third quarter of this year. Ellison, Paramount’s chief executive officer, has pledged to release a combined 30 films in theaters from the two studios annually.

In March, Warner Music also signed an agreement with Netflix Inc. to produce documentaries based on its roster of artists.

Michael, a film about the early career of Michael Jackson that was released in cinemas by Lionsgate Studios Corp. and Comcast Corp.’s Universal Pictures last month, has grossed more than $439 million at the global box office. — Bloomberg

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