Prouction company will produce low budget genre fare

LONDON — Brit producers Paul Cowan and Chris Wheeldon have pacted to launch Territorial Film Developments, a production outfit that will finance and produce three low-budget pics a year.

The new company, which has attracted Enterprise Investment Scheme coin, will focus on horror and comedy titles with budgets below $2 million.

TFD’s first offering is “Black Water,” a film about three young people whose fishing trip goes horribly wrong when their boat is attacked by crocodiles in the mangrove swamps of Northern Australia.

The project, a collaboration between TFD and the Australian Film Commission that is in post, was sold to 11 territories at Berlin by U.K.-based AV Pictures.

Also on the TFD slate is Richard Blanshard’s supernatural horror “Soothsayer,” Les Blair’s urban drama “Good Morning Tottenham” and Austro-Hungarian empire vampire pic “Carmilla: A Monstrous Tale of Lesbian Vampires.”

Cowan worked as associate producer on Brit pics including “The Krays” and “The Crying Game,” and as line producer on “Backbeat” and “Last Orders.”

Wheeldon has numerous credits in various roles including location manager on “Goldeneye.” The pair has worked together since 2000, providing international production services to U.S. and local projects.

Rodney Payne (formerly with Coutts & Co and Cobalt Pictures), Michael Ryan (Handmade Films International) and Adrian Munsey (Infinity Video) have joined Cowan and Wheeldon as non-executive directors at TFD to provide expertise in the fields of international film sales, distribution and financing.

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