Will Clarke and Andy Mayson’s Altitude Film Entertainment is moving into the distribution space with the launch of Altitude Film Distribution. Former Momentum exec Hamish Moseley will head up the division whose first titles will be Asif Kapadia’s …
After percolating for several months, Icon UK’s return to distribution has finally come together. New Sparta Ltd, an investment company founded by Jerome Booth, has acquired Icon Film Distribution UK and Icon Home Entertainment UK from the Icon UK Group which pulled out of the distribution business in 2011 to focus on in-house film finance and production. The new IFD is still staffing up, but Icon exec Ian Dawson will be CEO of the venture with Norman Humphrey as executive chairman and COO. Zak Brilliant is head of theatrical, Ray Primett is head of home entertainment and Sarah Brady is operations manager. The purchase by Sparta, which has interests in publishing, insurance and telephony, will include titles released though IFD’s output deal with Lionsgate, and the UK library. IFD will be acquiring third-party films for all media. Among the first titles is the upcoming James Wan-directed Demonic.
Since eOne’s acquisition of Alliance eliminated a buyer in the UK market – and with the disappearance of Revolver – a new player had been expected to emerge. Alliance’s Momentum and eOne used to give one another a run for the money, and an overwhelmingly common refrain in the past year has been that there is a real opportunity for another distributor to surface.
EXCLUSIVE: There have been seismic shifts in the UK’s indie distribution sector over the past few months, and more are in the cards. In what could be seen as a healthy sign for the industry, we’re hearing that Icon Distribution is set to re-emerge, backed by film fund Prescience, financier of The King’s Speech. The Icon UK Group, owned by Len Blavatnik’s Access Industries, pulled out of the distribution business in 2011 to focus on in-house film finance and production. At the time, it pacted with Lionsgate UK to handle its theatrical titles and recently announced a deal for Icon Entertainment International’s library to be repped by Exclusive Media. We understand that Prescience is close to a deal to acquire what remains of Icon Distribution in the UK, led by Icon executive Ian Dawson. We hear a deal has been in the works for some time and there’s a chance it may not make, but expectations are that the new company could launch in time to be buying at May’s Cannes Film Market.
The timing looks fortuitous given the changing outline of the UK’s distribution landscape. Already this year, eOne’s takeover of Alliance folded in Momentum, eliminating a key buyer. The resultant drop in prices was loudly lamented by sales agents in Berlin. One exec tells us, “If you’re a producer or a sales agent selling to the UK, you used to say you needed to get eOne and Momentum in a bidding war,” and that’s clearly not happening anymore. But another distributor welcomes the rationalization of the market where prices were inflated by having too many distribs competing for the same films. Another tells us, “It’s shaking out the rubbish that’s out there and the projects that are un-financeable.”
Still, an overwhelmingly common refrain is that there is a real opportunity for another distributor to surface. A revived Icon could fill that space. Another name that pops up as a potentially aggressive player is Koch Media, the UK arm of the German giant. It released Arbitrage and Red Dawn earlier this month. Koch, a rival distributor opines, “has a shitload of money to burn through. That’s the first thing you need.”
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Lionsgate UK today confirmed its new distribution pact with Icon UK, saying it will handle the release of all of the latter’s titles moving forward. The deal is for rights to all films to come, but, for the moment at least, the Icon library is not included. Speculation has been that Lionsgate would take over the library, which includes Precious, Man On Wire, A Single Man, Paranormal Activity and others. Lionsgate UK already handles the home entertainment rights for the Miramax and Nu Image libraries and recently entered a multi-year licensing deal with Netflix ahead of the streaming service’s 2012 UK launch. Icon’s releases in 2011 have included Jodie Foster’s The Beaver and Nicolas Winding Refn’s Drive. Lionsgate will now handle the release of Winding Refn’s next picture, Only God Forgives, along with Walter Salles’ On The Road, Adam Wingard’s You’re Next and the very English Postman Pat: The Movie.
Icon UK today announced that the company would head in a “new strategic direction” by focusing on acquiring and producing films while forming a distribution partnership with Lionsgate. A hook-up with Lionsgate had been expected, but this is the …
EXCLUSIVE…MONDAY UPDATE & WRITETHRU: I now have the details of that in-the-works deal between Ukrainian-born billionaire industrialist Len Blavatnik and cash-strapped The Weinstein Company. Harvey and Bob Weinstein are social friends with Blavatnik, whose U.S.-based Access Industries was the backer of Stewart Till’s 2009 purchase of Icon UK film and entertainment business from then owners Mel Gibson and Bruce Davey. Now The Weinstein Co and Icon UK will find movies with budgets of $5 million to $10 million, and maybe even $15 million (“if we see something we like,” an insider tells me). Weinsten Co will put up 100% of the P&A for the U.S. market and Icon UK will put up the P&A for foreign. And Weinstein Co will distribute the pics in North America while Icon UK will release in England and Australia. Weinstein Co will pre-sell a few overseas territories but Icon UK will re-sell most of the international countries. And the two companies will split the profits 50-50. It is The Weinstein Co’s intention to make as many films as it can that fit the criteria. The figure may start out as 1 or 2 the first year because of a revolving credit facility of only $25M which the Weinstein Co hopes could balloon to a fund of $100M.
Expect more international output deals soon. D Films, the Canadian distributor, initially plans to release between 5 and 6 films a year from the British sales and distribution company. This will rise to between 6-8.
The Icon output deal will cost D …
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