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MANDALAY SIGNS
DEAL WITH UNIVERSAL
Copyright 2002 City News Service
[ July 12th 2002 ]
Mandalay
Pictures entered into a multi-year financing and
distribution agreement with Universal Pictures,
it was announced today. The agreement continues
Mandalay's position as an independent production
conpany, "significantly providing for its financing
overhead and development," according to a joint
statement by Universal Pictures Production Presidents
Mary Parent and Scott Stuber and Mandalay Entertainment
Group Chairman Peter Guber.
Mandalay
was founded and majority-owned by Guber and Vice
Chairman Paul Schaeffer, with Lions Gate as a
minority investor. "This partnership provides
us with greater flexibility in financing and distribution,
as well as increased interplay with the international
market, which has been a significant area of achievement
for us over the past eight and a half years,"
Guber said.
Mandalay's
deal with Universal comes on the heels of a nearly
five-year stint at Paramount, where they collaborated
on such films as Tim Burton's Sleepy Hollow starring
Johnny Depp, Enemy at the Gates and The Score.
Serving Sara with Matthew Perry and Elizabeth
Hurley is set for a late August release, while
principal photography on Beyond Borders, starring
Angelina Jolie and Clive Owen and directed by
Martin Campbell, was just completed.
Prior
to its five years at Paramount, Mandalay had an
independent relationship with Sony that included
its production and financing of Donnie Brasco;
Seven Years in Tibet; Wild Things; and I Know
What You Did Last Summer and its sequel.
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