For each pic, co. will finance 75% of budget
NEW YORK– Myriad Pictures is near a deal to take over the majority of the financing and foreign sales of Francis Ford Coppola’s Zoetrope Pictures’ 10-pic slate from German shingle VCL.
For each pic, Myriad will come aboard to finance 75% of the budget, while UA will pony up the remaining 25%.
Under the new pact, Zoetrope will retain its domestic distribution arrangement with United Artists. Myriad will handle international sales to the remaining five pics in Zoetrope’s deal with VCL, all of which, except one, will be budgeted at under $10 million. In addition, company will take over the sales of the unsold territories for four of Zoetrope’s completed five films.
Coppola, who has elected to shutter a Gotham office and move some staffers to his San Francisco headquarters, will retain creative control of the films Zoetrope makes. Myriad will not pay Zoetrope employees’ salaries but will pay development fees for projects which Zoetrope and Myriad agree to make.
Part of the Zoetrope package of films is likely to be a sequel to “Jeepers Creepers,” Zoetrope’s first release under the VCL deal, which Myriad will finance with a budget well over $10 million.
The completed Zoetrope pics, due for release next year via UA, are “Assassination Tango,” directed by Robert Duvall; “CQ,” helmed by Roman Coppola; “No Such Thing,” directed by Hal Hartley; “Pumpkin,” directed by Adam Larson Broder and Anthony Abrams, starring Christina Ricci. Myriad will handle worldwide rights to “Assassination Tango.”
Run by Kirk D’Amico and Philip von Alvensleben, Los Angeles-based Myriad is partially owned by Frankfurt-based In-Motion, which also owns U.K. sales shingle J & M Entertainment.
Myriad is financing, producing and handling worldwide distribution for the romantic comedy “Why Can’t I Be Audrey Hepburn,” starring Jennifer Love Hewitt and currently in pre-production. It will finance and produce “Rain Falls,” starring Christian Slater and Patricia Arquette, which begins production next month.