prices became unaffordable, the studio would lose money. By the end of 1931, the studio suffered a net loss of reportedly $8,000,000.00, During this time, Warner rented the Teddington Studio in London, England. To help fight off the financial problems the Depression gave the studio, Warner Bros was now focused on making films for the London market and Irving Asher was appointed as the Teddington Studio's head producer. Unfortunately, the Teddington studio could not bring in additional profit to the Warners, and the Burbank studio would lose an additional $14,000,000 in 1932 as well. In 1934, Warner officially bought out the struggling Teddington Studio. However, relief would also come for the studio after Franklin Roosevelt became US president in 1933 and the New Deal revived the US Economy. Movie tickets became affordable once again. During the year, the studio was able to make a very profitable musical, 42nd Street. which revived the studio's musical films. However, in 1933, a blow would also occur as the studio's longtime head producer Darryl F. Zanuck would quit, because: (1) Harry was strongly against allowing his film Baby Face to step outside the Hays Code boundaries; and 2) the studio reduced his salary as a result of the financial woes the studio temporarily faced from President Roosevelt's bank holiday, and Harry still refused to raise his salary in the wake of the New Deal's economic rebound. Following Zanuck's resignation, studio director Hal B. Wallis took his place as the studio's executive producer, and Harry—who, along with his brother Jack, was a notable "penny-pincher"— finally agreed to bring salaries back up to government expectations once again. In 1933, the studio was also able to bring newspaper tycoon William Randolph Hearst's Cosmopolitan films into the Warner Bros. fold. Hearst had previously been signed with MGM, but he ended his ties with the company after a dispute with the company's head producer Irving Thalberg over the treatment of Marion Davies; Davies was a longtime mistress of Hearst, and was now struggling to draw box office success. Through the studio's partnership with Hearst, Harry's younger brother Jack was also able to sign Davies to a studio contract as well. However, Hearst's company and Davies' films could not increase the studio's net profits. In 1934, the studio had a net loss of over $2,500,000. $500,000 of this loss was the result of physical damage to the Warner Bros. Burbank