Company will stay private and get new funds
the Film Department pays TWC. The deal with TWC also provides access to TWC’s Showtime pay TV slots. However, the distrib deal means TFD’s fate is tied to TWC, which has had its own ups and downs but recently restructured and eliminated much of its debt. First release under the pact will be Catherine Zeta-Jones starrer “The Rebound,” which the company announced will open nationwide on Dec. 25. TFD has closed a U.S. homevid deal with 20th Century Fox Home Entertainment. “If you are an independent studio, you need to have a U.S. wide release guaranteed before you go into production. We have that,” Gill said. TFD intends to release not arthouse films but star-driven nationwide releases. Slate will be a mix of two to four inhouse productions a year as well as acquisitions. “The IPO brought good news and bad news. The bad news was the market was very hard. Hedge funds and mutual funds were on the fence,” Sacker said. “The good part was, companies came to us and said they liked our management team and that they saw the opportunity in U.S. distribution, but they thought it was too early for us to go public. If we would stay private, they would be interested,” he added. A number of top agents have been aiding the outfit as it looks for ways to stay afloat, including WME’s Patrick Whitesell and Graham Taylor, as well as CAA’s Kevin Huvane and Richard Lovett, according to insiders. Agents say TFD’s development slate is strong. It includes thriller “Good People,” which Niels Arden Oplev (“The Girl With the Dragon Tattoo”) has now come onboard to direct. Tobey Maguire is producing and attached to star. Once the $200 million in additional financing is secured, “Good People” is ready to go into production, as well as “The Pre-Nup,” a romantic comedy written and directed by Jordan Roberts, and “Agent Fabulous!,” from the producers of “Austin Powers.” Going into post-production is “Earthbound,” starring Kate Hudson, Gael Garcia Bernal, Whoopi Goldberg and Kathy Bates. It’s aimed for release in early 2011. TFD’s one release, “Law Abiding Citizen,” grossed north of $120 million worldwide. TFD launched in 2007 with $200 million in financing from GE Capital.
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