media rights capital Tagged Articles at Cinematical
Got Millions? You Can Buy Rights To 'The Terminator'!
Filed under: Action », Sci-Fi & Fantasy », Deals », Sony », Celebrities and Controversy », DIY/Filmmaking », Newsstand », Remakes and Sequels »
Back in August, we reported that the Terminator franchise was in some serious legal and financial trouble. The rights are currently owned by the Halcyon Company, who have managed to make more court appearances than they have films. They were in danger of losing the rights to their hedge fund, Pacificor, who was poised to claim them if Halcyon defaulted on their loan.But according to The Financial Times, Halcyon has now filed for bankruptcy after their lawsuit with Pacificor, and is selling off the rights to Terminator. It would appear that filing for Chapter 11 afforded their precious franchise some protection from the hedge fund, and they can now sell it to bail themselves out. The sale will be conducted by FTI Capital Advisors, and does not cover rights to the earlier Terminator films.
The Times notes that this auction is coming at a particularly tough time for Hollywood, who is feeling the economic crunch just like everyone else. But it notes that Terminator is one of the rare "blockbuster brands" not controlled by a big studio, and that alone has may drooling at the chance to control future properties. Summit is said to be particularly interested (they can probably pay for it just out of Twilight proceeds), as is Sony and Media Rights Capital. But remember, this is America! Everyone has a chance at destroying mankind, and if you have millions (estimates put the sale beyond $60 million, the benchmark set by the sale of the Teenage Mutant Ninja Turtles), you can buy them for yourself. I would have faith in something other than John Connor if a Cinematical reader took the reins of this franchise.
M. Night Says: What I Really Want to Do is Produce
Filed under: Thrillers », Deals », Cinematical Indie »
Fans of the world's most famous writer-director based in Philadelphia need not fear. Filmmaker M. Night Shyamalan is not abandoning his creative work as a writer and director in favor of restricting himself to production duties. He has, however, formed a new partnership to produce one thriller per year for three years, according to Variety.
M. Night "typically generates more movie ideas than he can execute." The terms of his deal with Media Rights Capital (MRC) mean that M. Night will "create the stories and ideas for the films and pick the writers and directors; MRC will finance." This won't affect his next directorial project, The Last Airbender, which is still set for release by Paramount in 2010.
My first thought was that M. Night is following in the footsteps of Steven Spielberg. You might remember that Spielberg created the TV series Amazing Stories in part because he had so many story ideas that he couldn't do himself. He ended up writing or developing 29 stories (out of 45 episodes). Interestingly, Eric Kohn asked M. Night in an interview last month if it wouldn't be easier for him to "go the independent route." Even though the filmmaker said he's "never had an issue with studios," this sounds like a big step in the independent direction.
And here's a quote that might warm the heart of anyone, including myself, who has been cool about his recent work: "Working with the next wave of innovative filmmakers will teach me many things that I can bring to my own writing/directing and give my stories the opportunity to be brought to the screen in a stunning way."
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