News
Vid distrib Anchor Bay enters theatrical
By Robert Marich
March 27, 2009 – As the ranks of indie theatrical distributors thin, home video distributor Anchor Bay says it will release some titles to cinema, starting with The Education of Charlie Banks.
A Los Angeles Times story notes the casualties are theatrical distribution arms New Line Cinema, Picturehouse, ThinkFilm, Warner Independent Pictures and Yari Film. Anchor Bay sees their departure as creating a void in the marketplace and also lessens competition in picking up distribution rights to finished indie films.
Interestingly, Warner Independent held U.S. rights to Best Picture Oscar blockbuster Slumdog Millionaire that its parent Warner Bros. sold to Fox Searchlight, in what indicates the potential for gushers in the indie world.
Anchor Bay plans 10 theatrical releases a year. Its ultimate parent is Liberty Media, which is a giant media company controlled by cable TV tycoon John Malone.
As for Education of Charlie Banks, the movie has been on the shelf for two years “and was directed by Limp Bizkit rocker Fred Durst and whose most recognizable star is The Squid and the Whale’s Jesse Eisenberg,” notes the LA Times article by John Horn. The film will get a limited theatrical release (which presumably will help its prospects in DVD sales and rentals).
The article continues that Anchor Bay’s immediate parent Overture Films/Liberty Media “believes it can fill a void for independent pictures at the multiplex, particularly at a time when many film festival movies can’t find a theatrical distributor. ‘There’s a ton of product out there with recognizable talent that isn't getting bought these days,’” said Chris McGurk, chief executive of Anchor Bay and Overture.
Anchor Bay will begin rolling out films with bigger stars, such as Beyond a Reasonable Doubt starring Michael Douglas on May 1 and Spread with Ashton Kutcher in August, adds the LA Times article.
For full text, click link below:
www.latimes.com/business/la-fi-cotown-anchorbay27-2009mar27,0,449731.story