Live Home Video reached an agreement early Thursday morning for the domestic distribution rights to P.F.G. Entertainment’s “Heart of Stone,” which is triggered to begin production in January.
Budgeted at $ 7 million, the Brian Bosworth starrer is one of the largest productions out for presale at the Mifed market.
The “Heart of Stone” deal was cut just after midnight at the bar of the Hotel Principe Savoia, where Live buyer Ronna B. Wallace and P.F.G. Ent. chief executive officer Jeff Schechtman hammered out terms of the deal. Brokering the transaction was International Creative Management agent Robert Newman.
Details of Live’s distribution plan for “Heart of Stone” have yet to be finalized. The pic will be delivered to buyers in October 1994.
Written by Rick Natkin and David Fuller, “Heart of Stone” will be directed by Sheldon Lettich, who has previously helmed 20th Century Fox’s summer 1993 release “Only the Strong” and a pair of international hits starring Jean-Claude Van Damme.
The sale of U.S. rights to “Heart of Stone” follows a week of furious international activity for the Bosworth pic, as P.F.G. had tackled preliminary agreements on the movie in virtually every major market for the pic.
Schectman said overall sales for “Heart of Stone” have eclipsed the movie’s $ 7 million budget.