pair of deals unveiled last week prove that despite recent losses sustained by overseas investors in Hollywood film companies, offshore partners are still willing to share the risk on big-budget Hollywood pictures – when they are helmed by auteur types and have a major studio partner.
In the first deal, Disney-based sibling filmmakers Ridley and Tony Scott have inked a four-year international rights agreement with Largo for feature films produced by their Scott Free film and TV company.
The Walt Disney Motion Picture Group has North and South American rights to four of the next six Scott Free films directed by the Scott brothers. Buena Vista Intl. has distrib rights in France and Germany. Scott Free is holding on to U.K. rights.
In addition to the Scott-directed pics, Largo may take on the international rights to at least four films Scott Free intends to produce over the next four years.
According to sources, Disney will put up approximately 55% of the budgets, with Largo contributing around 30% of the remainder. Largo would not comment on the precise numbers, but confirmed that they and the studio would each be contributing to Scott Free’s overhead and a revolving $4 million development fund.
In another split-rights deal, Atlas Entertainment has unveiled the completed financing package for “Twelve Monkeys,” the $30 million futuristic pic for Universal that recently wrapped production under helmer Terry Gilliam.
The complex deal for “Monkeys” involves TeleMuenchen in Germany; the British Broadcasting Corp. and Polygram Filmed Entertainment in the U.K.; Shochiku in Japan; and UGC in France. Universal will distrib domestically. Sources said the financing arrangement was a 50/50 split between the partners and the studio.