Par to pay Devlin's Electric bill
Co. energizing heist pic aboard aircraft carrier
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"The Carrier," greenlit by the studio, will be Electric's first project under the new pact.
The action-adventure focuses on a heist aboard a nuclear-powered aircraft carrier, in which thieves have to figure out how to steal $30 million from the ship and get it to shore.
Pic, which was co-written by John Rogers and David John McCarthey, also involves a love triangle.
Devlin expects to begin lensing by summer. No director or cast are yet attached, but Par is planning on a summer 2003 release.
Devlin founded Electric Entertainment in May with partner and chief operations officer Philippe Maigret and head of development Marc Roskin. Shingle's mission is to produce features, TV, interactive and music properties for a global audience.
Deal with Paramount closed Tuesday.
John Goldwyn, vice chairman of the studio's Motion Picture Group and prexy of Paramount Pictures, said: "I am thrilled Dean Devlin will be joining us here at Paramount. He is amazingly talented and has had a very successful slate of films. We look forward to working with him on his upcoming projects."
'Perfect partner'
Devlin commented: "Paramount Pictures is a perfect partner for Electric Entertainment, with the most stable group of executives in Hollywood and unparalleled global promotion and distribution reach."
Maigret said: "We have completed the first phase of our plan to build out Electric Entertainment as a leading creator of franchise-driven, multiplatform filmed entertainment."
Paramount will finance, market and distribute Electric's feature projects.
Devlin said Electric is near a pact with equity investors that will allow Electric to finance its own overhead and development.
Devlin produced "The Patriot," nominated for three Academy Awards. He co-wrote and produced such blockbusters as "Godzilla," "Independence Day" and "Stargate."
"Eight Legged Freaks," Devlin's first production under his Electric shingle, will be released by Warner Bros. and Village Roadshow in July.
Founded f/x house
Devlin also has been a leader in developing digital entertainment. He co-founded CFX, a digital effects house that merged with German post-production company Das Werk earlier this year and which will do the effects work for "Carrier." He also created a sci-fi Web site acquired by USA Networks in June 2000.
Maigret joined Electric from Centropolis Entertainment, where he engineered the Das Werk and USA Networks deals. Before becoming chief operating officer of Centropolis, Maigret was a senior international television distribution exec at DreamWorks. Maigret worked with Devlin on "Stargate" in 1993, arranging the pic's $50 million, sales-backed financing.
Roskin was VP of development at Centropolis before joining Electric Entertainment. Roskin at first joined Centropolis as production assistant to Roland Emmerich on "Universal Soldier. He worked in various production capacities on "Amistad," "The Lost World" and "Dante's Peak" before reuniting with Emmerich on "The Patriot."
Ziffren, Brittenham, Branca, Fisher, Gilbert-Lurie & Stiffelman repped Electric along with CAA.
