Archive for the ‘Executive shifts’ Category
Filed under: Executive shifts
With the doors closed, Disney is trying to get rid of Miramax’s merchandise. In other words, the library that boasts 700 films and brought in over 200 Oscar nominations, shelves that include titles like Pulp Fiction, Chicago, No Country for Old Men, and Shakespeare in Love. According to The New York Times‘ Media Decoder, there are roughly 7-10 interested bidders willing to pay over $700 million for the name and its films — one of whom, so far, doesn’t include The Weinsteins.
The pack does include, however, Summit Entertainment — the small little studio that grabbed a tossed-off Twilight Saga and made themselves a mint. Decoder notes that the company doesn’t have its own large library to bring in extra coin, and “could use the steady if diminishing DVD and television-resale income that comes from one.”
Analysts think that old-title income is over $300 million per year, although Disney has never released a number. However, that $300 might be very, very off. Wax Word at The Wrap notes that “According to two individuals who have had access to the financials, the library threw off about $100 million in net cash flow for the year according to the latest available figures.” They also report that billionaire Nelson Peltz is interested — the man who once owned Snapple, who now owns part of Cadbury-Schweppes, and currently has no hands in the movie business.
Should that $100 million be right, it’s doubtful that many would be willing to wait 7+ years to make their money back, and if some interested parties start backing down, maybe The Weinsteins will be able to dance in and grab control of their studio once again.
Filed under: Deals, Executive shifts, The Weinstein Co., Miramax
Miramax Films was born in the late ’70s, the child of Harvey and Bob Weinstein. The brothers, chilling in Buffalo, had produced a number of rock concerts over the years, and in 1979 (using their parents’ names Miriam and Max) they used their cash to create Miramax Films and feed their love of cinema. The projects that would follow included The Thin Blue Line, Sex, Lies, and Videotape, Pulp Fiction, and Clerks. In 1993, they sold the company to Disney, and in 2005, they left their fully grown company to create a new shingle — The Weinstein Company. Now they want their baby back?
According to Deadline Hollywood, London sources have told the site that Harvey wants to buy Miramax back from Disney, and is already working towards that goal. Since Disney isn’t doing anything with it, assumption suggests that this should be able to move forward. Harvey has already grabbed Miramax executives Peter Lawson and Lucas Webb, which is certainly a step towards the goal.
The original break from Disney was due to feuds with Michael Eisner, who left the company himself in 2005. No Eisner, no fued … Will the Weinsteins be successful? And if they do, would moving back to the world of Miramax renew their fame and success like The Weinstein Company failed to do? Is there that much in a name, even if it’s named after one’s parents?
Filed under: Executive shifts, Disney, Distribution, The Weinstein Co., Miramax
Well, so much for that. Right on the heels of the Deadline news that the Weinsteins wanted their Miramax back, The Wrap reports that the studio is closing. The New York and Los Angeles offices are being shut down, eighty people are losing their jobs, and there’s no buyout in sight. It seems Disney didn’t respond to buyout options, although Bob Iger said he would sell the studio outright for the oh-so-reasonable price of $1.5 billion.
Harvey said of the news: “I’m feeling very nostalgic right now. I know the movies made on my and my brother Bob’s watch will live on as well as the fantastic films made under the direction of Daniel Battsek. Miramax has some brilliant people working within the organization and I know they will go on to do great things in the industry.”
More than a name is dead. There are six movies waiting for distribution, three of which we’ve noted before.
Continue reading Miramax Dies … What About the Remaining Projects?
Filed under: Comedy, Romance, Executive shifts, Disney
In a world where most romcoms are as typical as day, I was looking forward to Wedding Banned, the flick that would have Robin Williams playing a dad who kidnaps his daughter on her wedding day with his ex to keep her from making the biggest mistake of her life. Since I last wrote about the project, Anna Faris signed on to play the daughter, and Diane Keaton, the mother and ex-wife. But it’s all moot now. THR’s Risky Business Blog reports that new Disney chief Rich Ross has put Wedding Banned into turnaround.
Following on the axing of Captain Nemo: 20,000 Leagues Under the Sea, the romcom was pushed aside, one of the reasons being the little money Old Dogs has brought in. To be fair to Ross, there is the potential for disappointment with this pic, especially grabbing the too-safe Diane Keaton for the wife role, an all-out typical choice and a comedic actress who isn’t exactly rolling in the box office fortune lately. Then again, Old Dogs is nothing like a marriage romcom, so comparing the two seems to put unnecessary and unfair blame at the feet of Robin Williams.
With Disney’s slate continuing to thin, what will step into its place? I bet it’ll be some sort of generic and copycat fare. It seems Ross has told colleagues that The Blind Side and Twilight should’ve been on the Disney roster. Let’s hope they take a cue from two very specific things about those hits — they both dared to do something unique. The former told a current and timely sports story with a whole marketing perk built in, while the latter tapped into an oft-ignored market. Will Disney find its own unique fare, or just aim to tap into the already established successes of other studios?
Filed under: Comedy, Romance, Executive shifts, Disney
In a world where most romcoms are as typical as day, I was looking forward to Wedding Banned, the flick that would have Robin Williams playing a dad who kidnaps his daughter on her wedding day with his ex to keep her from making the biggest mistake of her life. Since I last wrote about the project, Anna Faris signed on to play the daughter, and Diane Keaton, the mother and ex-wife. But it’s all moot now. THR’s Risky Business Blog reports that new Disney chief Rich Ross has put Wedding Banned into turnaround.
Following on the axing of Captain Nemo: 20,000 Leagues Under the Sea, the romcom was pushed aside, one of the reasons being the little money Old Dogs has brought in. To be fair to Ross, there is the potential for disappointment with this pic, especially grabbing the too-safe Diane Keaton for the wife role, an all-out typical choice and a comedic actress who isn’t exactly rolling in the box office fortune lately. Then again, Old Dogs is nothing like a marriage romcom, so comparing the two seems to put unnecessary and unfair blame at the feet of Robin Williams.
With Disney’s slate continuing to thin, what will step into its place? I bet it’ll be some sort of generic and copycat fare. It seems Ross has told colleagues that The Blind Side and Twilight should’ve been on the Disney roster. Let’s hope they take a cue from two very specific things about those hits — they both dared to do something unique. The former told a current and timely sports story with a whole marketing perk built in, while the latter tapped into an oft-ignored market. Will Disney find its own unique fare, or just aim to tap into the already established successes of other studios?
Filed under: Comedy, Romance, Executive shifts, Disney
In a world where most romcoms are as typical as day, I was looking forward to Wedding Banned, the flick that would have Robin Williams playing a dad who kidnaps his daughter on her wedding day with his ex to keep her from making the biggest mistake of her life. Since I last wrote about the project, Anna Faris signed on to play the daughter, and Diane Keaton, the mother and ex-wife. But it’s all moot now. THR’s Risky Business Blog reports that new Disney chief Rich Ross has put Wedding Banned into turnaround.
Following on the axing of Captain Nemo: 20,000 Leagues Under the Sea, the romcom was pushed aside, one of the reasons being the little money Old Dogs has brought in. To be fair to Ross, there is the potential for disappointment with this pic, especially grabbing the too-safe Diane Keaton for the wife role, an all-out typical choice and a comedic actress who isn’t exactly rolling in the box office fortune lately. Then again, Old Dogs is nothing like a marriage romcom, so comparing the two seems to put unnecessary and unfair blame at the feet of Robin Williams.
With Disney’s slate continuing to thin, what will step into its place? I bet it’ll be some sort of generic and copycat fare. It seems Ross has told colleagues that The Blind Side and Twilight should’ve been on the Disney roster. Let’s hope they take a cue from two very specific things about those hits — they both dared to do something unique. The former told a current and timely sports story with a whole marketing perk built in, while the latter tapped into an oft-ignored market. Will Disney find its own unique fare, or just aim to tap into the already established successes of other studios?
Filed under: Action, Classics, Sci-Fi & Fantasy, Executive shifts, Disney, Scripts, DIY/Filmmaking, Newsstand, Remakes and Sequels
The klaxons are sounding for the Nautilus and Captain Nemo’s origin story. Variety reports that Disney has quietly shelved the project, and McG has been released from duty in order to seek better fortune ashore.
The project was scheduled to begin production this February, and was on a fast track under Dick Cook. But as you probably remember, Cook was shown the door a few months ago. Many of Disney’s big projects seem to be left dangling as stars like Johnny Depp decide whether they’re sailing or staying ashore. 20,000 Leagues Under the Sea: Captain Nemo is just the latest, though Disney insists big popcorn flicks will still be a focus for them.
Leagues had already been a revolving door of rumors, with Will Smith said to be in the running to play Nemo. Justin Marks was originally penning the script, but was replaced by Randall Wallace this past July. Variety reports that the project was being penned by Bill Marsilli, so presumably Wallace was off as well. While it’s not unusual to have three screenwriters on a project, it doesn’t sound like this submarine had a reliable captain. Perhaps the Nautilus will sail again as a proper steampunk picture that explores his romantic Indian past, and not a slapdash summerfest.
Filed under: Deals, Executive shifts, Lionsgate Films, MGM, Warner Brothers, RumorMonger, Distribution, DIY/Filmmaking, Newsstand, James Bond
MGM Studios’ financial troubles will soon be coming to a sad end. Back in September, it was reported that MGM was in such poor shape that they might be forced to auction off their assets, including James Bond and The Hobbit. That day has come to pass. Variety reports that MGM Studios is officially on the auction block.
MGM has been given a month of breathing space from their interest payments, time they plan on using to begin “a process to explore various strategic alternatives including operating as a standalone entity, forming strategic partnerships and evaluating a potential sale of the company.”
But all hopes of survival may rest on what they sell off from their glorious history, including a library of 4,000 titles, the logo, the United Artists company, James Bond, and half ownership in The Hobbit. Time Warner, News Corp, and Lionsgate are said to be interested in all of the above.
As their library scatters to the four winds, it’ll be really interesting to see what remakes and reboots it spawns. Remember, Robocop was on the MGM remake slate, and surely some hungry studio will snap that up. The Cannon Films and ITV Global Entertainment collections are just ripe for harvesting. Perhaps you’ll finally see a Lifeforce movie, or a remake of Capricorn One, or an aspiring Tarantino type will buy up all those American International Picture rights and revive motorcycle gang movies. Sure, we all want to know who will wind up with James Bond, but it’ll be far more fascinating if someone tries to remake Psych-Out. *
*It’s possible this is considered one of AIP’s “early” films, though it’s unclear where that cut off date is.
Filed under: Deals, Executive shifts, RumorMonger, The Weinstein Co., Newsstand
Only a few days after Bob Weinstein announced a whole slew of upcoming projects based on existing franchises (including a new Scream trilogy, Spy Kids IV 3D, Halloween 3D, Scanners and Hellraiser), there’s now talk that Summit Entertainment (aka Home of the Twilight Saga) may be interested in acquiring either The Weinstein Co. or MGM (both of which are currently trying to dodge buckets full of money woes). Not only that, but Deadline Hollywood also reports that the Weinstein boys have decided to shelve Halloween 3D for now since they felt the production schedule (one that had them shooting in November for an August release) was too rushed, though perhaps these talks of a merger also played a part in that decision. DH claims, however, that Weinstein plans to start Halloween 3D once director Patrick Lussier is free to shoot it (he’s working on another film in January, so chances are H3D won’t start until sometime in the middle of next year if it happens at all).
Instead of Halloween 3D, though, The Weinstein Co. will be re-releasing Halloween 2 on Halloween — a move that’s left most fans scratching their heads, wondering why they never released a film called Halloween on Halloween to begin with. Part of that reasoning was due to not wanting to compete with the Saw franchise, and when the first Halloween killed (no pun intended) at the box office in August, it was pretty obvious the Weinstein boys would once again try their luck then instead of at the end of October. I’d be curious to see if the re-release decision pays off, and kids looking for a theme and some uneven scares will crowd the multiplex instead of spray shaving cream all over their neighbor’s brand new Mercedes. What do you think?
Meanwhile, we’ll be keeping a real close eye on this Summit thing …
Filed under: Executive shifts, RumorMonger, Box Office
You’re this small company, and one day, after MTV Films* and other studios pass on this little young adult vampire romance series, you pick it up. You spend roughly $40 million to make the feature, slip it onto the big screen, and suddenly, you’ve fostered a phenomenon. Your opening weekend alone pays for the film and then some. You score $191 million domestic, and another $192 million from the foreign box office. You find yourself at the heart of a film and marketing goldmine.
So what do you do with the money? You’ve blown off Lionsgate. You’ve given your stars sweet pay raises. But there’s still a whole lot left over. Nikki Finke has thrown up an in-house memo that discusses talks with Morgan Stanley and how it’s time to “look beyond the initial goals we have achieved and plan the next chapter in the studio’s journey.” Finke’s sources say that means “looking mostly for libraries to acquire.” Not to mention rumors of a Weinstein takeover.
Between my must-save nature and the number of studios that grabbed big success only to fall into oblivion a short time later, I’m hoping they take it easy and don’t go on a Gimme! Gimme! shopping spree. But even then, there will be decisions to make. Stick with books? Youth fare? Stretch the boundaries? Continue to score the projects everyone else leaves behind? If it were up to you, what would you do?
*Gotta love a company that passes up a property, then becomes its most fervent supporter.
