Companies give up exclusivity, will work together on pic-by-pic terms
The Canton Co. and German conglom Senator Entertainment have dissolved their exclusive joint venture, effective immediately. The move was anticipated (Daily Variety, Oct. 22).
Under terms of the restructuring, the partners give up exclusivity and will work in the future on a picture-by-picture basis.
Canton will control all aspects of future development and production of the 20 projects currently on the development slate, with Senator retaining its ownership and a position in any future completed films.
Under their deal, inked in August 2000, Senator fully financed Luis Mandoki’s “24 Hours,” which Canton produced with Propaganda Films. Pic is slated for release in the second quarter of next year through Columbia Pictures.