Additionally, veteran producer and executive Nicky Weinstock has joined Red Hour, which will be relocating its offices to Bold Films’ spaces in Los Angeles and New York. Bold Films will provide the overhead, as well as development and production financing on independent projects.
Red Hour, which has completed its longstanding first-look deal at Fox, has produced mostly comedies, including “Zoolander” and its upcoming sequel; “Dodgeball: A True Underdog Story”; “Blades of Glory”; “Tropic Thunder”; and “The Secret Life of Walter Mitty.” Bold Films, founded a decade ago by Michael Litvack and headed by Gary Michael Walters, produced “Whiplash,” “Nightcrawler” and “Drive.”
In an announcement Monday, Stiller said the agreement enables Red Hour to be fully independent.
“I am excited to begin this new chapter for Red Hour,” said Stiller in a statement. “Nicky Weinstock brings tons of experience and talent in partnering with Stuart and I in L.A. With Bold, Michel Litvak and Gary Michael Walters, we are partnering with like-minded filmmakers who have shown they are committed to making daring and original movies. If it doesn’t work out, we are all opening an accounting firm — Stiller, Litvak, Weinstock, Cornfeld & Walters. So it’s a no-lose proposition.”
Walters said the alliance will enable Bold to raise its profile in film and TV along with establishing a digital media division that will serve as an incubator of new talent and a hotbed of innovation.
Weinstock served as the creative head of Apatow Productions and as a senior VP of Chernin Entertainment before launching his own production company, Invention Studios, in 2011. Invention has set up more than a dozen movies at Fox, New Regency, Lionsgate, MGM, STX and CBS Films, in addition to 10 TV projects.
“As a longtime admirer of Ben’s phenomenal creative powers, I am thrilled to partner with him and my friend Stuart to launch a company so uncommonly empowered to have freedom and fun,” said Weinstock. “Our financial backing from Bold enables us to put together films and shows both inside and outside the traditional studio and network systems — giving us a flexibility and the means to go full-tilt on our projects, that’s all too rare these days.”
Red Hour’s Mike Rosenstein will continue to executive produce ongoing and new projects. TV executive Debbie Liebling is leaving her day-to-day role at Red Hour, but will continue to oversee all current Red Hour TV projects, including Comedy Central’s “Another Period,” starring Natasha Leggero, Michael Ian Black, Paget Brewster and Christina Hendricks, and “The Meltdown With Jonah and Kumail,” starring Kumail Nanjiani and Jonah Ray.
WME represents Red Hour.