The Circuit

Killer Films, the indie film shingle of Christine Vachon and Pamela Koffler, has sold a 50% equity stake to GC Corporation, a New York-based VC fund.

Principles say the cash injection will dramatically change the kinds of projects the company does, while keeping the Killer brand intact.  Vachon and Koffler's company has been responsible for many indie darlings like "Boys Don't Cry," "Far From Heaven," and "Hedwig and the Angry Inch."

GC Corp's Joseph Grinkorn and Adi Cohen will join Killer's board, along with former ThinkFilm senior vp Randy Manis, who has been tapped as the shingle's new CEO. 

Vachon confirmed that they are looking at much bigger canvases for future projects. "Yes, it's a big change," she said.

"The average Killer movie has been anywhere between $6 to $15 million," said GC Corp's Adi Cohen,  "We'll seek to increase those budgets to $40 to $50 million."

Cohen wouldn't comment on the buyout's amount, only describing it as "significant."  He said GC Corp is capitalized north of $100 million.  Cohen's partner, Joseph Grinkorn, is a major real estate and mortgage banking investor.

"Killer will be the platform through which GC Corporation does all our movie business," said Joseph Grinkorn. "Studio work is definitely the goal, but Killer will not stop doing indie movies."

"There is not much good news in the paper these days," said Koffler.  "So this is a gift.  It's a great opportunity for us to turn a corner."

The announcement comes weeks after Killer inked a deal with GC to co-produce "William the Conqueror" (Variety, Oct. 27), a big-budget, period actioner that is currently out to directors.  Cohen said GC has committed coin for half of "William's" budget.

Cohen explained they are committed to a five year business plan with Killer.  "We want Killer to compete," said Cohen, who said he envisions the company becoming as big a player as Miramax or Fox Searchlight.

"Killer is an undervalued asset," said Manis. "We're repositioning it by bringing in a proper infrastructure and development funds to move to the next level.  It'll take us some time to ramp up, but nothing will be too big for Killer."

Manis helped orchestrate the deal with CAA.  His history with Vachon and Koffler goes back to Killer's deal with ThinkFilm.

"The deal with ThinkFilm had its ups and downs," said Vachon, "but one of the best things was a meeting of the minds with Randy."

TV producer John Wells, who has long supported Killer's overhead and is an exec producer on many projects, will remain involved though how exactly remains unclear.  Vachon would only say that he is still very committed to the company.