Production company exits sales business
SYDNEY — Aussie television production company Beyond Intl. confirmed it will be exiting the film sales biz after the wholesale departure of its London-based film sales team.
Beyond’s Hilary Davis and Stephen Kelliher ankled Beyond Films to launch London-based sales company Bankside Films (Daily Variety, Jan. 10), effectively leaving Beyond without a film sales team.
Beyond topper Mikael Borglund said the departure of Kelliher and Davis made this an ideal time to cut its losses from film.
“It is something we have been working toward for a while,” Borglund told Daily Variety. “The film division has been losing money for four years, so we have been looking for a way to deal with it, and this opportunity came up, so it worked out well for everyone as the films can follow the management.”
Davis and Kelliher will take Beyond’s slate of eight films acquired in the past year with them to Bankside. Beyond will retain the rights to its catalog of 150 features.
As part of the deal, Beyond will not incur any termination costs from the departing employees, and it will share in the commissions Bankside earns on the eight films, which include “Almost Adult” and “Ghosts.”
Beyond has had success in the past with pics including “Lantana” and “Chopper,” but recent films such as “The Oyster Farmer” have disappointed. Last year the film division lost A$784,000 ($613,400).
However, Borglund said Beyond’s television business remains strong.