Cinedigm, Status Media & Entertainment to Co-Produce Action Films
They expect to produce at least four movies over two years, which Cinedigm will distribute in North America
Cinedigm on Thursday announced a deal with Status Media & Entertainment to co-produce at least four action films over the next 24 months which it will distribute in North America.
The movies from Status Media, a niche horror and thriller genre-focused production company, will be high-concept action films. Production budgets for each film are expected to range from $300,000 to $2,000,000 each.
The first film is projected to be completed in 2015.
"Filmmaking is both an art and a business,” said Timothy Woodward Jr., Status president/CEO, in a news release. "This deal allows us to reach new creative heights by producing a slate of high concept, cast-driven action films. We've built a reputation for producing some of the most exciting action sequences in independent film (often done practically, not by CG) and we're very proud of that distinction."
Cinedigm will retain all U.S. and Canadian distribution rights for theatrical, DVD, and television releases, including for Cinedigm's own CONtv channel.
"The deal underlines Cinedigm's continued commitment to the multilabel coproduction arrangements we have been forging over the past year," says Cinedigm president Bill Sondheim, "each providing us with all North American rights, a crucial advantage as the landscape of rights exploitation continues to evolve."
Founded in 2012, privately owned Status Media & Entertainment has produced 13 projects in the past two years. That includes the upcoming releases Checkmate, starring Danny Glover and Sean Astin, and Danny Trejo's Throwdown.
Previously completed Status Media films have been distributed by Lionsgate and Fox International, and will not be affected by the Cinedigm deal.
"These are exciting times, and we are looking forward to a long and successful relationship with Cinedigm," stated executive producer Craigar Grosvenor of Puppy Entertainment Films, who works in collaboration with Status Media.