EXCLUSIVE: Scott Free has made official news that Deadline broke on July 5. Former Summit Entertainment executive Michael Schaefer has been named president of the Fox-based company run by Ridley and Tony Scott. The post became vacant when longtime president Michael Costigan left to become a producer. Here’s the announcement:
In an announcement today, Ridley and Tony Scott appointed Michael Schaefer to the position of President, Scott Free Films. In his new position, Schaefer will oversee production and development for all projects under the Scott Free banner. Schaefer most recently served as Senior Vice President of Acquisitions and Co-Productions at Summit Entertainment. Movies he worked on during his time there include the Academy-Award winning film The Hurt Locker, 50/50 and Source Code. Prior to Summit, Schaefer worked at The Weinstein Company as VP of Production and Development.
“I am very excited to join Scott Free, one of the most dynamic and respected production companies in the business. Having the chance to work with two visionary film makers like Ridley and Tony, plus Justin, Jules and the entire team, is a dream come true, ” said Schaefer
“We are delighted that Michael has agreed to join us here at Scott Free,” said partners Ridley and Tony Scott. “He has impeccable taste, strong relationships and great business instincts and we look forward to working with him.”
UPDATE: Doesn’t look like it will take Ridley and Tony Scott long to name a new president for Scott Free. The name I’m hearing on the short list is Michael Schaefer, the former senior vice president of acquisitions and co-productions at Summit Entertainment who left that company after the consolidation of staff in the spring after the company was acquired by Lionsgate. Stay tuned.
EARLIER EXCLUSIVE, 2:13 PM: Michael Costigan will be leaving his post as president of Scott Free, I’m told. Costigan will move into full-time producing after spending the past seven years with the Fox-based company run by directors Ridley and Tony Scott. Costigan, a former production executive at Columbia Pictures, has already been doing a lot of producing along with managing the considerable volume of directing vehicles for the Scott brothers. I’m told Costigan’s exit is amicable and that the company expects to set a new top executive before the summer is over.
Costigan is currently producing Out Of The Furnace, the Scott Cooper-directed revenge thriller that began as a Brad Ingelsby spec script that initially had Ridley Scott prepared to direct Leonardo DiCaprio. It just wrapped, with Christian Bale, Woody Harrelson, Casey Affleck and Zoe Saldana heading the cast. He also produced Stoker, the Park Chan-wook-directed drama that stars Nicole Kidman, and he’s also producing The East, which was scripted by The Sound Of My Voice team of Zal Batmanglij and Brit Marling, with Marling starring with Ellen Page and Alexander Sarsgaard. Costigan also produced Cyrus and Welcome To The Rileys. Read More »