IAC rescues ‘Runners’

Co. saves pic with investors, bank, sale-and-leaseback deal

LONDON — Shooting will restart Oct. 24 on “Red Light Runners,” the London car chase thriller starring Michael Madsen and Harvey Keitel that has been on hiatus for two weeks while financing problems were sorted out.

The $15 million movie has been rescued by sales outfit IAC Films, which put together a package including two equity investors, a bank and a sale-and-leaseback deal.

“Red Light Runners,” directed by first-timer Nick Egan, shot for five weeks using cash from an Irish investor, Michael Casey. But that coin ran out before the producers had closed the rest of the financing, so the production was forced to shut down.

The producers — Nigel Warren Green, Michael Wearing, Mark O’Sullivan and Marcus Vinton — rushed into production because they wanted to deliver the movie for release in April to benefit from an extraordinary cross-promotional campaign by car manufacturer Audi.

Audi has pledged $6.6 million in P&A for the movie’s U.K. release, to coincide with the launch of a new car featured heavily in the film. The German company is also expected to put up smaller P&A sums in other European territories.

“Red Light Runners” is the story of a heist by a rogue CIA man, culminating in a car chase around London’s streets. Cast also includes David Carradine, Cillian Murphy, Roy Scheider, Crispin Glover, Kate Ashfield and Peter O’Toole.

Want to read more articles like this one? SUBSCRIBE TO VARIETY TODAY.
Post A Comment 0

Leave a Reply

No Comments

Comments are moderated. They may be edited for clarity and reprinting in whole or in part in Variety publications.

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More Film News from Variety

Loading