Jan De Bont's 'Power' back on track
R Media picks up action film
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Production on the John Cusack starrer was halted three weeks ago after a key investor dropped out.
Now the pic's German producer Internationalmedia has announced it is teaming up with strategic investor R Media Acquisitions LLC and that the project is up and running again.
R Media is taking over IM Stopping Power, the company responsible for the project, and will assume all liabilities in connection with the pic's production. Pic's budget has been upped from $50 million to $60 million.
R Media will appoint a new management for IM Stopping Power and withdraw its application for insolvency.
As part of a wider restructuring, Internationalmedia plans to sell its sales company IM Global, which it set up earlier this year. IM Global will continue to act as sales agent for all future Internationalmedia productions.
Capitol Films will become the sales agent for Internationalmedia's existing library, which contains some 70 titles.
