Bo Hyde, Kendall Morgan and Kathleen Haase have formed production and co-financing company Cherry Road Films, which will tap privately raised development and production funds for features and television.
The company’s first production is “Eulogy,” which Cherry Road exec-produces with Ovation Entertainment and Myriad Pictures. The ensemble comedy starring Ray Romano and Famke Janssen will be released by Artisan Entertainment.
Next month, Cherry Road begins production on an untitled project to be directed by Andrew Gurland (“Frat House”). That pic will be co-financed by Doug Liman’s Hypnotic and Bob Sheng and Nina Yang’s Double Edge Entertainment, with David Bartis also producing.
Cherry Road plans to make features budgeted in the $5 million-$35 million range.
“Generally speaking, we’re not going to finance a whole movie,” said production president Haase. “Some (of the money) is earmarked for development, but we’re not going to buy a spec for $300,000.”
Haase added that the Gurland pic “falls outside our business model,” since it’s budgeted at less than $5 million and has been greenlit without a domestic deal in place.
“Domestic distribution triggers our investment,” Haase said.
Also on the development slate are wrestling comedy “Jimmy the Dragon,” written by Brant Sersen and Jason Lederman, and teen extreme sports drama “The Dough Boys” with writer-helmer Boomer.
CEO Hyde is a former investment strategist and business manager for private equity and real estate, while production exec Morgan graduated from Columbia U.’s MFA program and has worked as a documentary and investigative producer for A&E, PBS and others.
Haase began her producing career with New Line Cinema’s “Detroit Rock City” and recently completed “Love Object” with Ed Pressman. She also worked as a Largo Entertainment exec.
VP of development Tommaso Fiacchino was a reader at Dimension Films and a documentary producer.