Robert Downey Jr.’s Production Company Exits Warner Bros. (Exclusive)

Robert Downey Jr.’s Production Company Exits Warner Bros.

Team Downey — the production company led by actor Robert Downey Jr. and wife Susan Downey — is no longer in a first-look deal at Warner Bros.

The Downeys remain involved in top priority projects at the studio, per the insider, including a live-action take on the children’s classic “Pinocchio,” and a third installment of the successful Sherlock Holmes film franchise which stars Downey and Jude Law.

The company has numerous other projects in development including a reported HBO crime series with “True Detective” creator Nic Pizzolatto, and a previously announced action movie about the true story of the 1945 sinking of the USS Indianapolis, which left its crew members floating in shark-infested waters for five days.

Downey Jr. will also keep his day job as movie star — Marvel’s Iron Man heads to Atlanta, Georgia, to shoot Avengers:

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