July 17 (Bloomberg) -- ``The Dark Knight,'' the Warner Bros. film that pits Batman against a painted psychopath, may rank among this year's top three movies in box-office sales.

The film may take in more than $100 million when it opens this weekend, according to Gitesh Pandya, editor of the industry tracker Web site BoxOfficeGuru.

The movie, which stars Christian Bale as Bruce Wayne and the late Heath Ledger as the Joker, may also edge Warner Bros. parent Time Warner Inc. closer to market leader Viacom Inc.'s Paramount Pictures in ticket sales. Time Warner is relying on ``Dark Knight,'' as well as the next ``Harry Potter'' film later this year, to drive 2008 studio revenue.

``It's unquestionably the most anticipated movie for the rest of the summer,'' said Pandya, who is in New York. ``It was already going to be a blockbuster before Heath Ledger's death. That's really provided a whole second level of interest, especially for those who were not really into comic book films.''

``Dark Knight'' may produce opening weekend returns similar to Paramount's ``Indiana Jones and the Kingdom of the Crystal Skull'' and ``Iron Man,'' Pandya said. Directed by Christopher Nolan, the sequel to 2005's ``Batman Begins'' probably cost $150 million to make and may generate more than $250 million at the U.S. box office, behind the more than $300 million ``Iron Man'' and ``Indiana Jones'' will likely reap, he said.

Film sales at Time Warner may rise 1.7 percent to $11.9 billion this year, while profit may drop 1.2 percent to $1.2 billion, hurt by costs to merge the company's film studios, said Michael Morris, a UBS AG analyst in New York.

$100 Million

To boost film earnings, New York-based Time Warner is planning to reduce movie production over the next year to half the number made two years ago, Chief Executive Officer Jeffrey Bewkes said in June. Bewkes, who took over in January, has cut 450 jobs at New Line, which he is merging with Warner Bros, while spinning off the company's cable-television systems group.

Morris recommends investors buy Time Warner shares because he expects Bewkes to improve earnings at the cable networks and film studios.

The new Batman movie features Maggie Gyllenhaal as Rachel Dawes, Wayne's love interest, while Morgan Freeman and Michael Caine return as Lucius Fox and butler Alfred.

``There's not been that many movies opening at $100 million or more,'' Jeff Robinov, president of Warner Bros. Pictures Group, said in an interview. ``If it'll get up to $100 million, we'll be very excited about it.

Ledger

If ``Dark Knight'' is successful, Warner Bros. would like to make another Batman movie with Nolan, Robinov said. The studio hasn't held ``deep'' conversations with the director about that yet, he said.

``It has shaped up to be a four quadrant film -- older men, younger men, older women, younger women,'' Robinov said. ``It's partly the appeal of Heath Ledger, partly because of the success of the first movie.''

Ledger died in January from an overdose of prescription drugs. He was nominated for the best actor Oscar award for his portrayal of a gay cowboy in ``Brokeback Mountain.''

Time Warner's film studios ranked No. 2 in market share behind Paramount this year through July 13, according to researcher Box Office Mojo LLC in Burbank, California.

Time Warner, down 11 percent this year, closed unchanged at $14.65 at 4:15 p.m. in New York Stock Exchange composite trading.

``Haunting and Visionary''

``Dark Knight'' is opening in a summer of superhero movies, including ``Hancock'' and ``The Incredible Hulk.'' Until the Batman sequel, Time Warner focused more on other action films including ``10,000 B.C.'' and comedies, such as ``Get Smart.''

``Sex and the City,'' from New Line, is the company's highest-grossing movie so far this year, with more than $148 million in U.S. ticket sales, according to Box Office Mojo.

Through July 16, 65 critics on RottenTomatoes.com gave ``Dark Knight'' an average rating of 8.2 points out of 10. Rolling Stone magazine's Peter Travers said ``the haunting and visionary `Dark Knight' soars on the wings of untamed imagination.'' Ledger's Joker is ``one of the most twisted and mesmerizing creeps in movie history,'' said Time magazine's Richard Corliss.

``The franchise derailed in the '90s with the Joel Schumacher directed `Batman and Robin' but it came back in '05 with Christopher Nolan's rendition,'' said Brandon Gray, publisher of Box Office Mojo. ``It looks like they're trying to continue the winning wave.''

To contact the reporter on this story: Gillian Wee in New York at gwee3@bloomberg.net.

Last Updated: July 17, 2008 16:29 EDT