EXCLUSIVE: Warner Bros has just swooped in and exercised its right to match the winning bid. It has bought the RatPac Dune Library that consists of 15-25% of 76 big ticket films that the studio co-financed with the help of RatPac Dune through its slate deal, sources confirm. Deadline revealed late last year that Vine Alternative Investments, which last year bought a controlling interest in Village Roadshow and acquired the Manchester Film Library, had all but agreed to a deal in the $290 million to $300 million range. The one caveat was that Warner Bros reserved the right to match. It isn’t going to make Vine happy, but they and other suitors essentially established the bar and Warner Bros met it. The library was expected to fetch about $250 million when the auction started in November, brokered by financial advisor Alan Mnuchin of AGM Partners. He is the brother of Steven Mnuchin, the former RatPac Dune principal who divested his stake when appointed Treasury Secretary by President Donald Trump.

Even though the percentage of ownership in the films wasn’t as high as some library sales, this drew multiple bidders in the mix because the titles were so attractive and the revenue so reliable. The library consists of minority stakes in films that include Gravity, Wonder Woman, Batman V Superman, The LEGO Movie, Creed, Annabelle, Godzilla, American Sniper, Mad Max: Fury Road, It and Dunkirk. At the time, sources said this was about the most attractive library to hit the market in at least a decade.

The library consists of films co-financed by and/or originated by RatPac when it was run by Brett Ratner and James Packer, latter of whom sold his stake to Len Blavatnik. Despite the messiness of that company’s unraveling, sources at the studio said the optics aren’t the main reason the sale is happening. The original deal was to to co-fi 75 pictures over a four year span, and the traditional route is for investors in such ventures to cash out. The usual suspects in these types of investment opportunities were all in the mix, and Bank of America is standing by to lend the debt in a bidding process said to be very competitive.

Warner Bros discontinued its slate funding relationship with RatPac Dune. While it recently made a deal with BRON Studios to co-finance six films including the new Clint Eastwood release The Mule, sources at the studio said Warner Bros wouldn’t likely get another partner to stake films on the level that RatPac Dune did. RatPac Dune financed a portion of just about every Warner Bros film except JK Rowling’s Harry Potter and Fantastic Beasts films. Ratner remains the CEO and Chairman of RatPac and will after the sale of the RatPac/Dune library, a partnership between Ratner’s RatPac and Steve Mnuchin’s Dune.

The library titles are all past their theatrical lives, but there are pieces of huge titles that still create revenue reliably. Sources projected the library will generate $60M-$80M annually for the next five years and then dissipate. Now, Warner Bros will keep the rights to all these films on the Barham lot, owning the cash flow from the library and copyrights in perpetuity.

Here again are the films in the library:

Gravity

Grudge Match

The LEGO Movie

A Winter’s Tale

300 Rise of an Empire

Godzilla

Blended

Edge of Tomorrow

Jersey Boys

Tammy

Midnight Special

How To Be Single

In The Heart of the Sea

Creed

Our Brand Is Crisis

Pan

The Intern

Black Mass

The Man From U.N.C.L.E.

Into the Storm

If I Stay

This Is Where I Leave You

Annabelle

The Judge

Horrible Bosses 2

Inherent Vice

American Sniper

Jupiter Ascending

Vacation

Magic Mike XXL

Max

Entourage

San Andreas

Mad Max: Fury Road

Hot Pursuit

Get Hard

Run All Night

Focus

Batman v Superman

Barbershop The Next Cut

Keanu

The Nice Guys

Me Before You

The Conjuring 2

Central Intelligence

The Legend of Tarzan

Lights Out

Suicide Squad

War Dogs

Ready Player One

Tomb Raider

Night Game

The 15:17 to Paris

Paddington 2

Justice League

Sully

Storks

The Accountant

Collateral Beauty

Live By Night

The LEGO Batman Movie

Geostorm

The LEGO Ninjago Movie

It

Annabelle Creation

Dunkirk

The War Horse

Wonder Woman

Everything Everything

King Arthur: Legend of the Sword

Unforgettable

Fist Fight

Kong: Skull Island

C.H.I.P.S.

Going in Style

Godzilla