Turnaround is fare play

Par wants to avoid passing on potential blockbusters

By DAVE MCNARY

Paramount's been trumpeting its bold moves and risktaking under Brad Grey. But it's become decidedly cautious about letting go of old projects.

Producers with projects on the lot were already grousing about the studio's slow response to taking out projects initiated under the Sherry Lansing regime.

But the carping has risen as Par imposed new rules on turnaround pics.

In addition to the standard condition of having its development costs paid off, Par wants the right to co-finance and co-distribute any pic grabbed in turnaround.

Producers say the policy change has gone over like a lead balloon at other studios and assert that such terms will effectively prevent them from ever getting their projects made.

Of course, Par wants to avoid replicating a "Home Alone" miscue.

Warners famously passed on the kid comedy and it went on to become a huge hit for Fox, which picked it up in turnaround.

Warners refused to put anything into turnaround for most 1990s, fearful of missing out on another B.O. bonanza.