Arnon Milchan’s New Regency Prods. is continuing to try to pound out a deal with its studio home of seven years, Warner Bros., but the exclusive window of negotiation with the studio ended Friday, after an extension from a July 7 deadline. Milchan is now expected to open up discussions with other entertainment companies such as Viacom, MCA and Sony. An inquiry in fact already went out to Viacom on Friday.
New Regency is said to be asking a significant investment — $200 million upfront — from a studio partner so that the company can expand into areas outside feature film production. The company has made during its tenure at Warners over 50 pictures, including such films as “Sommersby,” “Heat,” “A Time to Kill,” “Cobb,” “Murder at 1600” and the Cannes critical favorite “L.A. Confidential,” which bows this fall. New Regency’s existing production partners include Leo Kirch, Kerry Packer and Korea’s Samsung.