Fresh off the success of “Spotlight,” Open Road Films is teaming with Crystal City Entertainment/Boundary Stone Films in a multi-picture development financing pact for all of Open Road Films’ own productions over the coming years.
The deal will cover two to four films annually with the titles getting a wide domestic release via Open Road Films and foreign sales being handled by Open Road International and partner Film Nation.
Open Road was launched in 2011 by Regal Entertainment Group and AMC Theaters, two of the largest U.S. exhibitors. Besides “Spotlight,” which has topped $33 million domestically and received six Oscar nominations, Open Road has seen strong performances from mid-budget titles such as “The Grey,” “Killer Elite,” “A Haunted House,” “The Host,” “Side Effects,” “The Nut Job” and “Chef.”
Ari Daniel Pinchot of Crystal City Entertainment/Boundary Stone Films said, “Led by Tom Ortenberg, Open Road Films has a fantastic track record and a top notch team in motion picture marketing and distribution. We are confident that backing their productions in the earliest stages is a smart investment for our companies.”
“We are delighted to be joining forces with the teams at Crystal City Entertainment/Boundary Stone Films,” said Ortenberg, “Their development financing investment will lay a strong foundation for future projects.”
The deal was negotiated by Ortenberg and Elliott Kleinberg on behalf of Open Road Films and by Pinchot for Crystal City Entertainment and Mark Schacknies for Boundary Stone Films.
Crystal City Entertainment/Boundary Stone Films have partnered on “Coach Willie,” written by Gregory Allen Howard and produced by Gulfstream Pictures and “Van Cliburn,” produced by Temple Hill and starring Ansel Elgort. Crystal City has backed “Lee Daniels’ The Butler” and “The Ides of March.”