In a move that spotlights the growing squeeze in the specialty pic arena, Sidney Kimmel Entertainment is slashing its slate from five to six films per year to two to three.
The 80-year-old Kimmel, a garment industry billionaire who's backed films beginning with such mid-'80s movies as "Clan of the Cave Bear" and "9½ Weeks," made the announcement in the wake of disappointing box office for the company's upscale pics despite generally strong critical support.
SKE also pinkslipped six Los Angeles-based employees, effective immediately. Prexy Jim Tauber, president of production William Horberg and president of Kimmel Distribution Bingham Ray will remain with the company.
The indie outfit will now partner with studios to market and distribute its titles. SKE previously marketed its own films, which were distribbed most recently by MGM under a nonexclusive deal.
Recent releases via MGM included "Lars and the Real Girl," which grossed $6 million; "Charlie Bartlett," which took in $3.7 million; and "Death at a Funeral," which landed $8.5 million.
Kimmel's most successful recent moves involved backing "United 93" and "Breach," which both grossed more than $30 million and were released through Universal. SKE also backed "Kite Runner," which Par Vantage released to a $15 million domestic cume.
Moves by Kimmel were expected amid rumors of the company's downsizing and given that SKE recently restructured its credit facility arranged through JPMorgan.
"We are extremely proud of the films we have produced in the last three years, and yet we also recognize the changes in the market, the tremendous increase in the number of independently financed films, the increase in marketing costs and the difficulty in finding a unique place for each film in release," Tauber said. "Reorganizing our company will allow us to move forward aggressively, and find and develop the kind of movies we want to make."
SKE's upcoming titles include "Synecdoche, N.Y.," written and directed by Charlie Kaufman and starring Philip Seymour Hoffman; "Adventureland," from "Superbad" director Greg Mottola; and Stephen Belber's "Management," starring Jennifer Aniston, Steve Zahn and Woody Harrelson.
SKE's foreign sales and acquisitions division Kimmel Intl., based in New York and run by Mark Lindsay, will continue to function as it has since the company's inception.
Contact Dave McNary at
dave.mcnary@variety.com