The man behind 'The Matrix' and 'Lethal Weapon' franchises leaves his namesake company as a financing deal with billionaire Daryl Katz goes south amid tensions over costs and discipline.
For decades, Hollywood producer Joel Silver was known for his lavish spending, prickly personality and prime office space on the Warner Bros. studio lot, where he presided over action franchises likeWhen Silver lost his Warners deal and a follow-up arrangement with Universal went south, he then partnered with Canadian private equity financier Daryl Katz of the Katz Group.
Silver, 66, rose to prominence in the era of the non-writing movie producer, a time when he and peers like Jerry Bruckheimer could command $2.5 million plus a cut of first-dollar gross on a studio film. Warner Bros. was a home to him, advancing him money when he needed it and assigning him big-budget features to develop and produce.
But Silver continued to act as his old hit-maker self, say sources, which Katz was attempting to rein in. Weekly lunch meetings, with meals made by a private chef at his home were reduced to meetings at the office, then reduced to an irregular schedule. His retinue of two assistants was reduced to one at the end of last year, says a well-placed source. Silver also had a driver, a holdover perk from his studio days, that he continued to enjoy.
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