Overture happy to nab 'Mad Money'

Company nears overseas distribution deal

By DAVE MCNARY

McGurk

Overture Films has won a competitive battle to secure rights to the Diane Keaton-Queen Latifah caper film "Mad Money" and is also in final negotiations with a major studio to take over overseas distribution of its new slate.

Announcement of the foreign distribution deal is expected within a few days.

The company is co-financing "Mad Money" with Avi Lerner's Nu Image and will co-own North American rights.

The film, directed by Callie Khouri -- who wrote the script with Glenn Gers -- also stars Katie Holmes. 

United Artists, run by Holmes' husband Tom Cruise, was in the final bidding for the project, which originally had been developed at MGM under the regime of Chris McGurk. McGurk now heads Overture.

"Mad Money," scheduled to wrap filming in Louisiana in early June, centers on a trio of co-workers plotting to steal money marked to be destroyed at the Federal Reserve Bank.

"From 'Thelma & Louise' to 'Divine Secrets,' Callie has written some of the strongest and most compelling female characters in recent film history," McGurk said.

Pic becomes the third on the Overture slate. Banner announced its first acquisition during Sundance, snagging domestic rights to "Ferris Wheel," a family drama starring Charlize Theron, and it recently greenlit action-drama "105 Degrees and Rising" as a co-venture with Echo Lake Entertainment.

Overture's business strategy calls for an annual slate of eight to 12 features with pricetags of up to $30 million and targeted to specific auds, along with the ability to tap into the resources of parents Starz and Liberty Media.