Film mart is land of rising sum
Japanese distrib buys 'K19,' 'K-Pax,' 'Wedding Planner'
The Japanese distrib, which is reportedly ramping up its slate in preparation for an IPO, bought Intermedia's "K19," starring Harrison Ford; "K-Pax," starring Kevin Spacey; and "The Wedding Planner." It also took "Scary Movie 2" from Miramax.
Japan is typically the highest-priced foreign territory for indie sellers. Observers estimate that Intermedia' three-pic deal, the first to be closed on its expensive new slate of projects, is worth north of $20 million.
Intermedia' Jere Hausfater refused to confirm the deal. But in response to widespread buyer gripes about the sky-high pricing of his slate, which also includes the $140 million "Terminator 3" and the $80 million "Basic Instinct 2," he said, "It' true, my prices are outrageous, and you can quote me on that."
'Ali' on the ropes
With speculation mounting around Mifed that Initial Entertainment Group is having trouble closing its $66 million deal to sell foreign rights to Sony' $105 million "Ali," Intermedia is one of the very few destinations for buyers seeking blockbuster titles.
Meanwhile, Miramax has closed sales all around the world on its current slate, headed by Shekhar Kapur' "Four Feathers," "Dracula 2000," "Equilibrium," "Get Over It" and "Scary Movie 2."
One surprise was that Miramax canceled its screenings of Giuseppe Tornatore' "Malena" in London and Milan, even though the film was released in Italy this weekend. Decision reflects the fact that Miramax and the headstrong auteur have yet to agree on a final cut for international consumption.
Other titles snapped up
Spain' Lauren Film bought the whole Miramax slate. Germany's Concord stepped up for "Four Feathers" and "Get Over It," while Highlight took the Dimension titles. In Japan, Amuse Pictures took "Four Feathers" plus leftovers "Down to You" and "Boys and Girls," while Asmic Ace snapped up "Dracula 2000" and "Waking Up in Reno."
Korea' Taewon Entertainment stepped in for "Dracula," "Get Over It," "Heaven" and "Malena." In Taiwan,Miramax sold "Four Feathers," "Get Over It" and "Scary Movie 2" to its regular distrib Era but also started a new relationship with CMC, which bought "Dracula" and "Equilibrium."
With its "Ali" deal yet to close, IEG made a last-minute decision not to come to Mifed at all. Meanwhile, an Italian sale on Martin Scorsese' "Gangs of New York," rumored to be imminent, also failed to materialize. Sources said Cecchi Gori had agreed to pay $6 million but had so far been unable to secure the letter of credit necessary to complete the deal.
