Walter Hamada has found a new studio that will see the home move away from superheroes and return to his horror roots.
The former DC Films president has signed an exclusive production deal with Paramount, the studio announced Tuesday. The move comes just weeks after he left his position at Warner Bros, where he oversaw DC for four years. Before that, he worked on New Line horror properties like The Conjuring.
The new deal, effective January 1, 2023, will see Hamada oversee the studio’s line of horror films. It has recently found success with Smile, made $209 million globally on a $17 million budget. Hamada’s mission will be to release a handful of mid-budget thrillers to theaters and streaming in a year.
Brian Robbins, President and CEO of Paramount Pictures said: “With a track record of groundbreaking success, Walter is the ideal and visionary partner to build the franchise business. our mainstream horror genre. “The proof is the excellent performance of Smile, There is a huge demand in the global market for unique, highly conceptual storytelling and we look forward to a long and successful partnership.”
Hamada said, “I am delighted to be partnering with Paramount Pictures with the sole objective of creating films specifically in the horror genre. “Throughout my career, there has been nothing more gratifying than discovering emerging filmmakers and first-time writers and showcasing their talents in a set setting. Thank you Brian and the entire team at Paramount Pictures for this tremendous opportunity, I can’t wait to get started.”
Hamada joined DC in 2018, a tumultuous time for the brand as they looked for a way forward. Alliance justice and the departure of filmmaker Zack Snyder, architect of the DCEU. During his tenure, Hamada has presided over Oscar-winning films, grossing $1 billion waggery (2019), suicide squad (2021) and Batman (2022). Those three films exemplify Hamada’s strategy of beating rival Marvel Studios’ shared cosmic trends, as all three films take place in separate continuums.
The Warners CEO’s departure comes after Warner Bros. Discovery, David Zaslav, overhaul Warner Bros and his vow to reshape DC with a ten-year plan as it seeks to take on rival Marvel Studios. Zaslav recently appointed James Gunn and Peter Safran as the new heads of DC. Hamada worked with both on the DC property and brought in Gunn to direct suicide squad after he was temporarily fired from his position as director of Marvel’s Guardians of the Galaxy Vol. 3.
Hamada came to DC Films from Warners’ New Line, where he promoted thanks to combine and It Franchising.
Paramount is the home of famous horror games like A quiet place, Blair witch Project and Screaming.