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Gold Circle bows $100 mil film arm

Kronemyer appointed prexy of new firm

Gateway Computers founder Norm Waitt’s Omaha, Neb.-based Gold Circle Entertainment has launched Gold Circle Films, appointed David Kronemyer the company’s president and committed roughly $100 million over the next two years to financing indie features.

As its inaugural film, the L.A.-based shingle will fully finance the $5 million pic “Double Whammy,” written and to be directed by Tom DiCillo (“Living in Oblivion”). Pic stars Denis Leary, Elizabeth Hurley and Steve Buscemi, and begins production in New York on June 1. Producers are Marcus Viscidi and Jim Serpico.

Eighteen-pic pipeline

“We are looking for extremely well-written scripts that allow us to articulate a path to production,” said Larry Katz, former Morgan Creek head of development who now holds that title at Gold Circle Films. Kronemyer added that his company will make roughly 18 pics budgeted at $5 million over the next two years.

“In David Kronemyer and Larry Katz,” said Waitt, “we are fortunate to have two highly experienced and respected executives who will enable the company to reach out to the filmmaking community and produce first-class movies.”

Added Kronemyer: “Steve Small at UTA sent the ‘Double Whammy’ script to us on a Monday. On Wednesday, we were in his office to close a deal with full financing for the movie. We want filmmakers and their representatives to see us as a company that not only is creative and innovative, but also one that is responsive.”

Gold Circle Films already has a half-dozen other projects on its slate, including two headed for production later this year: teen horror pic “Wishcraft” and battle-of-the-sexes comedy “Dawg.”

Multimedia outreach

Gold Circle Entertainment owns 53 radio stations, five TV stations and an outdoor advertising firm that operates more than 500 billboards. In 1998, it formed record company Samson Records.

Kronemyer had been a lawyer with entertainment firm Gibson Dunn & Crutcher, then worked for Capitol Records and Atlantic Records. Subsequently, he set off on his own, putting together movie deals including “Family Tree” for Warner Bros. and “Wedding Bell Blues” at Curb Entertainment.

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