Flutter entertainment stocks are likely to tumble after a number of media reports emerged on Tuesday that the entertainment giant is in talks with Hollywood about a new animated film.
In a report by Variety, the film industry website said the Disney-owned company had been in talks for the past year with Sony Pictures and DreamWorks Animation, which would produce and finance the movie.
It said a deal was still under negotiation.
According to the Variety report, the company has also been in discussions with Warner Bros. and Warner Bros.’
New Line studio, which has produced and financed films including Transformers, Superman Returns and Wonder Woman.
The report also said Disney has been negotiating with Universal Pictures to produce the film.
“Disney is in a race to find a studio to make Flutter,” the report added.
“There are no clear dates and no deal in place, but a deal is still in play.”
Disney has been working with Sony, DreamWorks, Warner Bros., and Universal for some time on Flutter.
The talks were said to have been at a point where Disney would be able to secure the rights and financial backing from the three major studios.””
It added: “The deal is being discussed by Disney as a potential new studio and is likely to be done before the end of the year, but it remains to be seen whether it can be wrapped by the end, if at all.””
The Flutter movie is said to be a potential contender to be the next Transformers film and is currently a big-name property for Disney.”
It added: “The deal is being discussed by Disney as a potential new studio and is likely to be done before the end of the year, but it remains to be seen whether it can be wrapped by the end, if at all.”
The Variety report also reported that Disney has offered to finance the project in a pre-money deal but said the details were not clear.
“Flutter is currently one of Disney’s top films in the pipeline,” the outlet said.
“Disney will also help finance and produce the movie with money it has raised, including the new theme park park.”
“However, it’s unknown if Disney would ever be able or willing to commit to finance and finance Flutter itself.”
“Disney’s interest in Flutter is one of the many reasons why Disney is in the process of trying to move forward with its ambitious plans for the Disney Princess franchise,” the article said.
Disney CEO Bob Iger told investors on Wednesday that the company was not in talks about a film with any major studio.
He also said there was “no concrete agreement” about Flutter and that it was still “early days” and that the studio was “still looking for the right partner”.
Iger said he did not know when the film would be released.
Last week, a New York Times report claimed Disney had reached an agreement to finance an animated film from Pixar, the studio behind the popular hit film Finding Nemo.
Disney has long been involved in the development of animated films and has worked on many of them including Finding Nemelots and Toy Story.
Last year, Disney bought the rights to a TV series about the adventures of a boy and his dog.