In a move that will diminish risks and costs for both studios, Columbia Pictures is in final negotiations with Dimension Films to co-finance “Once Upon a Time in America: Desperado 2” the sequel to the 1995 Robert Rodriguez Western-themed actioner that has been in development with Col since then.
With Antonio Banderas toplining and writer-helmer Rodriguez aboard to helm, a start date is expected within a couple of weeks.
Sources familiar with terms of the deal said Dimension would handle all international sales on the pic while Col would retain the domestic rights.
Original pic, produced by Rodriguez and Bill Borden, grossed $25 million domestically. That Dimension is interested in a piece of the action on the Banderas/Rodriguez reteaming should come as no surprise: Rodriguez’s “Spy Kids,” also starring Banderas, grossed a whopping $98.4 million since it opened in March.