That 2003 Looney Tunes movie, Looney Tunes: Back in Action, did a number on the Looney Tunes brand. It performed so poorly at the stateside box office, only $21 million on budget of $80 million, that another Looney Tunes movie hasn't been seen in theaters since. Things are about to change.
According to The Hollywood Reporter, Warner Bros is rebooting the franchise and has enlisted former Saturday Night Live cast member Jenny Slate to write the script.
Details about the new movie are under wraps, but, like the previous ones, it's going to be a live-action/CGI hybrid.
Recently, the professional basketball player LeBron James wrote on Twitter that he loves Space Jam and wishes he can be in Space Jam 2. Is it possible that James' tweet may have set this whole reboot in motion? Time will tell.
Space Jam for those who don't know is the 1996 Looney Tunes movie starring Warner Bros iconic animated characters and some of the top professional basketball players from those days like Michael Jordon, Charles Barkley, etc.
That movie cost an estimated $80 million to make but made $90 million in the States and $140 million overseas for a total of $230 million. Since a sequel wasn't made, one can only assume it wasn't profitable for the studio after all the fees were paid out.
Source: http://www.rottentomatoes.com/m/1925932/news/1925932/
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