James Franco, Winona Ryder Pic ‘The Stare’ Launches Waterstone Entertainment Label

By | Monday April 18, 2011 @ 10:59am PDT
Mike Fleming

EXCLUSIVE: James Franco will star with Winona Ryder in The Stare, a Jay Anania-directed film that is the first project funded by Waterstone Entertainment, a new producing/financing company formed by producer Jeff Kalligheri and Texas real estate developer and producer Steve Bowen.

Waterstone intends to generate projects it develops and has several other projects percolating, including two that will be produced by Franco (one he’ll direct) and his Rabbit Bandini partner Vince Jolivette. Waterstone’s core business will be to build a distribution business through a partnership it will strike with an independent distributor, Kalligheri said. Waterstone will put up minimum guarantees on films, and will also be looking for structured finance opportunities on films that are in the works. Kalligheri said he will be meeting with potential strategic partner distributors at Cannes, with Waterstone repped by Gersh’s head of Packaging and Finance, Jay Cohen. Bowen has funded several projects but no hits and is looking to step it up. Kalligheri had most recently been president of production at Queen Nefertari Productions, which had been been developing Adrenaline for Entourage’s Kevin Connolly to direct. Read More »

Comments 35

Summit Captures U.S. Rights To James Patterson’s Alex Cross Reboot With Tyler Perry And Matthew Fox

Mike Fleming

EXCLUSIVE: Summit Entertainment has acquired domestic distribution rights to I, Alex Cross, the reboot of the James Patterson franchise. Tyler Perry stars as the title character, with Rob Cohen directing. Lost‘s Matthew Fox was just set to play Michael Sullivan, a psycho serial killer who viciously murders Cross’s wife when the detective thwarts his earlier attempt to commit a murder.  The drama becomes a mano a mano battle between cop and the killer who is one of the most memorable villains in Patterson’s novels. Ed Burns will play Cross’s partner Tommy Kane.

Three distributors chased the picture. One was Lionsgate, which has the long relationship on all the hit films that Perry has directed and starred in. But Summit Entertainment had an “in” as well: Summit co-chairman/CEO Rob Friedman. Friedman, former Vice Chairman and COO at Paramount Pictures Motion Picture Group, had an active hand in Paramount’s release of the first two Alex Cross films, Kiss the Girls and Along Came A Spider, which starred Morgan Freeman. He personally oversaw the acquisition and has a relationship with the author. Read More »

Comments 39