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Heat 2 Financing Stalls as Warner Bros. Pursues Co-Production Deal and DiCaprio Talks

The studio cut Michael Mann’s projected cost to about $170 million to strengthen its bid for external financing.

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Overview

  • Michael Mann delivered the first draft of the Heat 2 screenplay in March 2025, adapting his 2022 novel into a dual prequel-sequel structure.
  • The film’s budget has been trimmed from over $200 million to roughly $170 million but remains above Warner Bros.’ comfort level for solo funding.
  • Warner Bros. is shopping co-financing partnerships and has sent the script to Apple Original Films for consideration.
  • Leonardo DiCaprio is reportedly in talks to join the cast, with his involvement viewed as pivotal to securing financing.
  • Industry rumors also link Adam Driver and Austin Butler to roles as younger versions of Neil McCauley and Chris Shiherlis.