Spyglass spends with ‘Abandon

Disney retains pic rights in Latin America, Asia, U.K. and Oz

Spyglass Entertainment has come on board to co-finance the Steve Gaghan drama “Abandon” with Paramount Pictures.

Disney-based Spyglass will take international rights to the pic in territories such as Japan and Germany where it has output deals; Disney will handle rights in Latin American, Asia, the U.K. and Australia. Paramount has domestic distribution rights.

Gaghan, whose star has been on the rise since penning “Traffic,” makes his directorial debut on the film, which he also wrote. Benjamin Bratt is in negotiations to star alongside Katie Holmes (Daily Variety, March 12). Charlie Hunnam (“Queer as Folk”) is also in negotiations to join the cast. Lynda Obst and Edward Zwick are producing. Shooting is scheduled to begin April 23.

Spyglass, which co-finances three to five pics a year with Disney, made a similar co-financing pact with Universal on the Kevin Costner-starrer “Dragonfly,” directed by Tom Shadyac.

Spyglass has “Reign of Fire,” directed by Rob Bowman, currently lensing in Ireland. In post-production at the shingle is a documentary on the history of basketball, “One Love”; the Malloy brothers’ “Out Cold” (formerly known as “Ten to One”); and the Jim Caviezel-starrer “The Count of Monte Cristo.”

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