TriStar Pictures announced Friday that it has extended for 18 months its first-look production deal with Adelson-Baumgarten Prods., refreshing a relationship that began with an overall housekeeping deal in 1991.
The deal follows the production company’s involvement as co-producer of the behemoth “Hook” and as exec producer of “Cop Gives Waitress $ 2 Million Tip.”
Headed by producers/managers Gary Adelson and Craig Baumgarten, the company has one other pic percolating at another studio — Walt Disney Co.’s “Blankcheck.”
At TriStar, the producers are readying the Scott Meyers/Andy Burg screenplay “Stalemate.” The pic, a buddy comedy, will be produced with Daniel Melnick and Alan Shapiro’s IndieProd — another producer on the TriStar lot.
The producers are also discussing the possibility of a sequel to “Universal Soldier,” which would be produced through Carolco Pictures and distributed by TriStar.
Under terms of the deal, Adelson-Baumgarten will be paid a flat fee, while the two producers handle the day-to-day operations and finance of their television, movie and management shingle.
The Adelson-Baumgarten pact comes at a time when numerous TriStar and Columbia producers’ deals have either shifted to competing studios, expired or are coming up for renewal.
The signing also comes weeks after a disclosure that Scott Rudin had delayed his move from Paramount Pictures to TriStar for one year. The prolific producer had been scheduled to arrive in July.