×
You will be redirected back to your article in seconds

Canana, Telefonica Team On Diego Luna’s ’Black Minutes’

Giant Europe telcomakes first movie investment in Mexico

CANNES — Telefonica Studios, the film-TV production arm of telco giant Telefonica, has entered Mexico, boarding “The Black Minutes,” starring Diego Luna and Demian Bichir, a flagship movie project from Canana, the Mexico City and L.A.-based production-sales company of Gael Garcia Bernal, Diego Luna and Pablo Cruz.

Mundial, IM Global/Canana’s joint sales venture, is pre-selling “Black Minutes” at Cannes.

Channelled via Movistar Mexico, its telephony-Internet company, and Terra Networks Mexico, its Internet portal, Telefonica Studio’s investment, which sees it co-producing “The Black Minutes,” is its first in Mexico, as the company drives ever-deeper into Latin America’s movie industry.

Telefonica’s partnership with Canana is also a graphic illustration of how business is turning ever more on key scaled content creators and financiers, such as IM Global and Canana, linking to pay TV giants like Netflix or telco Telefonica, that are looking to high-profile content to drive for their brand and subs-driving value.

“We’re delighted to be working with Telefonica, with its outreach throughout Latin America and Spain, which gives us the dimension for the film that we have been pursuing,” said Canana’s Cruz.

Popular on Variety

A tale of crime, corruption and cover-ups ignited when a 20-year-old cold case crashes into the present, “The Black Minutes’” scale, in stars, VFX and production value, will also help is snag powerful theatrical disturb partners in and outside Mexico.

Production is scheduled for late this year, Cruz said.

“Spain and Latin American countries need a bridge. Having Telefonica on board, being the player that it is, is a giant step towards crossing that bridge,” Cruz added.

For Telefonica Studios Axel Kuschevatzky, “Latin American cinema is finally coming together, the awareness of Latin American cinema in Latin America is now growing.”

Telefonica Studios has scored heavily in Argentina, co-investing via Telefe, Argentina’s biggest broadcast network in a slew of box office hits, led by Demian Szifron’s “Wild Tales” and Pablo Trapero’s “The Clan,” bringing to the table Telefe’s huge marketing muscle, more than any Hollywood studio can muster.  Via Argentina, it is co-producing Pablo Larrain’s Cannes Directors’ Fortnight.

More Film

  • Legion M Launches Film Scout Mobile

    Film News Roundup: Legion M Launches Film Scout Mobile App at Sundance

    In today’s film news roundup, Legion M is launching its Film Scout mobile app, the first round of Oscar presenters are unveiled, Verve is expanding its book-to-screen business, “Gladiator” producer David Franzoni boards an American Indian project, and XYZ announces promotions. SUNDANCE LAUNCH Fan-owned Legion M is launching its Film Scout mobile app at this [...]

  • Writers vs Agents Packaging War WGA

    APA Reaches Deal With Writers Guild of America

    APA has reached a deal with the Writers Guild of America, ending a nine-month standoff over allowing the agency to represent guild members. The full-service agency made the announcement Tuesday, four days after the Gersh agency signed a similar deal with the WGA. It’s the sixth mid-size agency to accede to the WGA’s bans on [...]

  • UTA Sundance

    UTA Marketing Ups Sundance Game With Private Residence, Programming

    Talent agency hospitality is a mainstay at the Sundance film Festival, be it in swanky lounges on Park City’s Main Street or private chalets in nearby Deer Valley. United Talent Agency, whose talent roster and independent film group always come in force each year, typically throws a brunch for friends and press — but will [...]

  • Joel Silver

    Silver Pictures Settles with Family of Assistant Who Died on Bora Bora Trip

    Silver Pictures has reached a confidential settlement with the family of Carmel Musgrove, the assistant to Joel Silver who was found dead in a Bora Bora lagoon in 2015. Musgrove’s family filed a wrongful death suit in 2017, alleging that she had been overworked and furnished with drugs and alcohol during the trip. The family [...]

  • David O. Russell

    David O. Russell Looks at 'Three Kings' 20 Years Later

    When David O. Russell made “Three Kings” in 1999, it was one of the most definitive films on the Gulf War. At the time, the director had worked on shorts “Hairway to the Stars” and “Bingo Inferno: A Parody on American Obsessions.” He had also worked on features “Spanking the Monkey” and “Flirting with Disaster.” [...]

  • Metoo Sundance The Glorias Zola On

    #MeToo Issues Continue to Make an Impact on Sundance Films

    If there were any doubts that the impact of sexual-harassment exposés­­ and backlash against them had died down, Oprah Winfrey put them to rest when she withdrew her name (and Apple’s distribution) from “On The Record,” a film about allegations against music execs Russell Simmons and L.A. Reid — just two weeks before its Sundance Film Festival premiere. Variety reached out to Winfrey and the [...]

More From Our Brands

Access exclusive content