AFM: Download THR's Day 5 'Daily'
In day 5 of THR's AFM Daily, Alcon Entertainment's "Point Break" reboot sells out worldwide, Who drummer Keith Moon gets the big-screen biopic treatment and China meets to discuss easing censorship guidelines.
In the current uncertain market climate it is almost unheard of for an independent film to sell wide without cast attached, but uber-salesman Patrick Wachsberger, co-chairman of the Lionsgate Motion Picture Group, has done just that with Point Break as buyers rushed to outbid each other for rights to the actioner, which Warner Bros. will release domestically. It's all the more impressive when you consider the film's director, Ericson Core, has just one feature-directing credit to his name -- the 2006 football movie Invincible starring Mark Wahlberg. But Core knows how to deliver wow-em visuals (he was the cinematographer on the first Fast & Furious film) and a pitch reel produced for AFM apparently blew buyers away.
A still-untitled biopic of legendary The Who drummer Keith Moon will be the first project to be developed under a new slate development and financing agreement announced today by Exclusive Media and New York-based Da Vinci Media Ventures, the management company to the Da Vinci funds led by Wendy Rutland and U.K. tech guru Toby Moores, extends the rolling four-picture equity deal the two firms inked in Cannes this year.
China's ruling Communist elite have begun a key meeting in Beijing that should open up the country's entertainment industry, but Hollywood execs shouldn't expect any dramatic easing of censorship anytime soon. Leading industry insiders believe reforms coming from the four-day closed-door meeting, called the Third Plenum, are likely to make it easier to invest in the Chinese film industry, including investment from overseas.