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27/10/2004

$200m film agreement could boost UK industry

Platinum Studios, an entertainment company that controls the world's largest independent library of comic book characters, and Gold Circle Films, a leading independent entertainment company, have entered into an multi-project agreement for the development of 10 motion pictures based on characters from Platinum Studios' library.
The $200 million deal is the largest in history between studios, financiers and comic book producers. In addition, the films will be produced in the United States and Europe in order to capitalise on the regions' financial and tax incentives.
"Platinum's awareness of the complexities and tax needs of combining financing from around the world is unique - the company truly understands the international financial model," said Paul Brooks, president of Gold Circle Films and founder of UK film distributor, Metrodome. "In addition, Gold Circle is committed to the British film industry, and this deal will enable us to employ more European crews and talent and will allow us to further grow our presence in the UK."
Gold Circle's production executive Zak Kadison brought the Platinum Studios deal to the company, where it will be administrated by himself and Brooks. The first four projects to be born from this deal are ‘Book of Mercury’, based on the comic book stories by Alan Moore about a magical book with the power to rewrite the future; ‘Seen’, a thriller about a photographer who finds himself stalked after accidentally photographing a crime; ‘Casting Shadows’, a psychological thriller about a group of friends whose seemingly harmless magical games turn serious when one of them turns up dead; and ‘In Law and Order’, an action-comedy by Rob Moran about an FBI agent forced to team up with his tough cop dad and his mother-in-law, a fiery liberal judge. These four projects will begin production as early as 2005 with Brooks and Platinum's chairman, Scott Mitchell Rosenberg producing. Gold Circle's Norm Waitt and Scott Niemeyer will executive produce.
"With this $200 million fund from Gold Circle, there are no layers. We find a project and talent and can be in production within a year. Merchandising and marketing partners will have easy, digital access to creative elements for sales and cross promotion," said Rosenberg. "From a financial standpoint, we participate at every level in a real way - Gold Circle has crafted a very forward thinking deal, and it is the first one of its kind that we have accepted, even though we've been approached with others."
(GB)
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