Word has it that Sid Sheinberg’s 2-year-old production company, the Bubble Factory, and Universal Studios Inc. are in the process of negotiating out the remainder of their deal, which called for the studio to fully finance three to four films annually over five years.
The Bubble Factory, which was set up by former MCA president and chief operating officer Sheinberg and his two sons Jon and Bill after Sheinberg left his exec post, has suffered a series of box office flops for U.
The company produced “Flipper,” “McHale’s Navy” and “That Old Feeling. ” Still to come is the July 11 release of “A Simple Wish,” which stars the young Mara Wilson (“Matilda”).
So far, the Bubble Factory hasn’t performed any better for Sony, which released “The Pest” to poor numbers. Sony has another Bubble Factory production, “Stinkers,” which is tentatively scheduled to be released theatrically in first-quarter 1998.
At the time new owners Seagram negotiated the deal with Sheinberg, sources told Daily Variety, it included an out for the film studio if Bubble Factory failed to reach a certain performance level financially, and well … that time apparently has come.
It’s not clear what Sheinberg’s plans are for the company. None of the parties was available for comment.