Relativity, that filed for Chapter 11 failure protection today, might be shedding films. But with an auction now pending, lenders have a vested seductiveness in saying a association sojourn in a film business. And to do that, a restructured Relativity will need to keep some product in a pipeline.
With a company’s destiny really most in flux, Relatively stays committed to a recover of during slightest dual films, Masterminds and Kidnap, and hopes to start prolongation on a third, The Crow, this fall, according to one insider.
Masterminds, a heist comedy starring Zach Galifianakis and Owen Wilson, is now slated for recover on Oct. 9, while a Halle Berry-starrer Kidnap, that was creatively to have strike theaters in October, was recently deferred to Feb 26, 2016.
“The rest of a line-up is adult in a air,” a insider says, adding, however, that a association is still “identifying properties they will wish to produce.”
One large different is how a abounding outlay understanding that Relativity struck with Netflix in 2010 will be affected. Although financial sum weren’t disclosed during a time a understanding was announced, a terms depended on how many films Relativity eventually delivered and how they fared during a box office. While a understanding is deliberate one of Relativity’s some-more critical assets, it also could be threatened by a bankruptcy, according to one source with believe of a deal.
Over a past several days, as a failure filing loomed, several cinema have bolted. Sony Pictures Worldwide Acquisitions terminated Relativity’s domestic placement deal for The Bronze, a Sundance strike from Duplass Brothers Productions about a foul-mouthed gymnast played by Melissa Rauch — it’s probable that Sony Pictures Classics will step in to collect adult a film. Relativity has given a rights to Jane Got a Gun, a uneasy Western starring Natalie Portman, behind to a filmmakers. And another project, that has not nonetheless begun filming, Out of This World, a teen intrigue film starring Asa Butterfield as a man lifted on Mars, has changed to STX Entertainment.
Relativity also has given behind rights The Tribes of Palos Verdes, a YA instrumentation starring Jennifer Garner and Tye Sheridan, that had been grown underneath Relativity’s specialty multiplication label, R2, to that movie’s producers. But it has defended a right to come behind in and discharge a film in a U.S. Likewise, it substantially will give behind a Christian song documentary Hillsong: Let Hope Rise. And a crime play Den of Thieves, that has Gerard Butler attached, also could travel out a door.
Now that Relativity has filed Chapter 11, there are several high-profile titles in flux. Autobahn, now patrician Collide, a action-thriller starring Felicity Jones, Nicholas Hoult and Anthony Hopkins, that had been penciled in an Oct. 30 release, is among that group. “If it stays during Relativity, it’s a disaster,” says one chairman concerned with a film. However, other parties concerned in a prolongation would still like to see it sojourn during Relativity.
Another finished pretension whose destiny is adult in a atmosphere is poser thriller Solace, starring Hopkins and Colin Farrell.
For a moment, Relativity also wants to hang on to Hunter Killer, an in-house prolongation starring Butler that has nonetheless to start shooting, as good as a Kate Beckinsale-starrer The Disappointments Room, that is set for a Sept. 25 opening, though that will expected see a recover postponed.
The predestine of a Fletch reboot is also a doubt mark. Relativity owns 50 percent of a movie, and insiders insist it is staying put, although the understanding requires a film to start pre-production by a finish of a year. According to one source, however, a rights to a reconstitute were returned to a filmmakers during a same time that Jane Got a Gun was released; a films share a producer, a Boies/Schiller Film Group. And a source tighten to a prolongation says Fletch “is relocating brazen with a growth but Relativity.”
Red, EuropaCorp’s corner placement try with Relativity, is not partial of a bankruptcy. And so EuropaCorp’s arriving recover report — that includes The Transporter Refueled (Sept. 4), Shut In (Feb. 19) and The Lake (July 15, 2016) — stays unaffected.
—Borys Kit contributed to this report