Paramount Pictures Extends Deal With The Montecito Picture Company and Cold Spring Pictures
HOLLYWOOD, Calif., Feb. 18 -- Paramount Pictures, a unit of
Viacom Inc. (NYSE: VIA and VIA.B), today announced an extension of its
agreement with The Montecito Picture Company and Cold Spring Pictures to run
through February 2012. The arrangement gives the Studio an exclusive first
look at Montecito's diverse productions, as well as the non-exclusive
opportunity to co-finance films through Montecito's financing facility, Cold
Spring Pictures.
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The Montecito Picture Company was set up in 1998 by Ivan Reitman, the
creative force behind film phenomena ANIMAL HOUSE, STRIPES, GHOSTBUSTERS,
DAVE, TWINS and more, and Tom Pollock, former Universal Pictures Chairman,
under whose tenure worldwide hits including JURASSIC PARK, CAPE FEAR and
APOLLO 13 and the release of over 200 films grossing over $10 billion.
Together, Reitman and Pollock produced cult hits OLD SCHOOL and ROAD TRIP,
among others. In 2006, Reitman and Pollock set up film financing arm, Cold
Spring Pictures, with Merrill Lynch and other financial partners.
"Ivan and Tom are tremendous talents," said Brad Grey, Chairman and CEO,
Paramount Pictures Corporation. "We couldn't be happier about being in
business with a director of Ivan's artistic and commercial talent, and Tom's
unmatched producing and executive skills. We are privileged to have worked
with them through DreamWorks and now are thrilled to expand our relationship."
"We had a successful nine-year relationship with DreamWorks, and now we're
delighted to extend our relationship with Brad and Paramount," said Tom
Pollock. "Our experience with their global marketing and distribution team
has been extremely rewarding, and we look forward to our close future
collaboration with the entire studio."
"Tom and I are thrilled to continue our creative partnership with Rob
Moore, John Lesher, Adam Goodman, Brad Weston and the entire team at
Paramount. We look forward to a long and productive run of making high
quality pictures together," said Ivan Reitman.
Montecito, through DreamWorks, produced for Paramount the hit thriller
DISTURBIA (2007), which debuted number one at the box office where it remained
for three consecutive weekends. Ultimately, DISTURBIA earned more than $117
million worldwide and solidified Montecito, Cold Spring and Paramount's
partnership.
This year, the three entities are collaborating on an impressive lineup of
diverse films. In January, Montecito, Nickelodeon Movies and Paramount
Pictures released family friendly HOTEL FOR DOGS starring Emma Roberts and Don
Cheadle. Since its opening on January 16, the film has garnered more than $62
million at the domestic box office. Montecito and Paramount also partnered to
release THE UNINVITED on January 31. The bone-chilling horror film, based on
the Korean movie A TALE OF TWO SISTERS, is directed by Thomas and Charles
Guard, and stars Elizabeth Banks and David Strathairn.
Montecito and Paramount are pairing up on the highly anticipated March
release of comedy I LOVE YOU, MAN helmed by John Hamburg, produced by Donald
De Line with Paul Rudd and Jason Segel starring, and in the fall, Montecito,
Cold Spring and Paramount will release the topical comedy UP IN THE AIR
starring George Clooney with Jason Reitman directing from his screenplay.
In addition to the Paramount movies, The Montecito Picture Company and
Cold Spring Pictures will release POST GRAD starring Alexis Bledel and Michael
Keaton, directed by Vicky Jenson through Fox Atomic in August, and are in
production currently with CHLOE, an erotic thriller for StudioCanal, starring
Julianne Moore, Liam Neeson and Amanda Seyfried, directed by Atom Egoyan.
"That is a total of six films to be released in 2009," added Pollock. "A
remarkable achievement in any year, much less in these difficult times. I
want to pay tribute to Jeff Clifford, Joe Medjuck and Ali Bell who are
responsible for development and production at The Montecito Picture Company."
About Montecito Picture Company
Formed in 1998, The Montecito Picture Company was formed by partners Tom
Pollock, who served as Vice Chairman of MCA INC., Executive Vice President of
MCA and Chairman of Universal Motion Picture Group and accomplished
Director/Producer Ivan Reitman. The Company has produced such films as ROAD
TRIP, EVOLUTION, OLD SCHOOL, EUROTRIP and DISTURBIA. The company has offices
in Santa Barbara and Beverly Hills.
About Paramount Pictures Corporation
Paramount Pictures Corporation (PPC), a global producer and distributor of
filmed entertainment, is a unit of Viacom (NYSE: VIA, VIA.B), a leading
content company with prominent and respected film, television and digital
entertainment brands. The company's labels include Paramount Pictures,
Paramount Vantage, Paramount Classics, MTV Films and Nickelodeon Movies. PPC
operations also include Paramount Digital Entertainment, Paramount Famous
Productions, Paramount Home Entertainment, Paramount Pictures International,
Paramount Licensing Inc., Paramount Studio Group, and Worldwide Television
Distribution.
SOURCE Paramount Pictures
CONTACT: Patti Rockenwagner of Paramount Pictures, +1-323-956-5011
Patricia_Rockenwagner@paramount.com
or
Rachael Godfrey of The Montecito
Picture Company and Cold Spring Pictures, +1-310-247-9842
rgodfrey@montecitopic.com
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