Myriad, Tapestry sign five-year deal

Agreement involves development, prod'n distribution

CANNES — On the heels of their recent teaming on the Rachael Leigh Cook starrer “Tangled,” Myriad Pictures has signed a five-year development, production and distribution deal with Tapestry Pictures.

In addition, Intl. Film Guarantors has sealed a multipic deal with Myriad to be the company’s principal completion guarantor for its upcoming slate.

Myriad will provide Tapestry with an undisclosed development fund and will co-produce a minimum of two pictures per year over the term. Myriad will retain international sales rights to all titles produced under the deal as well as select library titles, including three features in the Olsen twins’ family film franchise.

First pic under the new arrangement will be the youth comedy “Van Wilder: Party Liaison,” starring Tara Reid (“Josie and the Pussycats”) and Ryan Reynolds (“Two Girls and a Guy”). Directed by Walt Becker (“Buying the Cow”), pic is produced by Levy and Abrams and exec produced by Myriad co-prexys Kirk D’Amico and Philip von Alvensleben. Artisan Entertainment handles the domestic release.

Myriad and Tapestry also are developing “Breaking the Girl,” a pic described as a cross between “Strangers on a Train” and “Wild Things,” set on a college campus. Nina Coleman penned the script.

Lucas Foster, Myriad’s president of production, will work closely on the Myriad/Tapestry co-productions with Tapestry’s production prez, Jennifer Gibgot; exec VP of production Andrew Panay; and exec VP Jonathon Komack Martin.

Tapestry’s recent productions include the Jennifer Lopez-Matthew McConaughey starrer “The Wedding Planner,” for Columbia Pictures; “Pay It Forward,” starring Kevin Spacey and Helen Hunt for Bel-Air Entertainment and Warner Bros. Pictures; and “She’s All That” for Dimension Films.