Kanzaman among 'Ruins' with Playtone
EmptyMADRID -- Spain's Kanzaman Prods. has joined Tom Hanks' Playtone Prods. as co-producer on "My Life in Ruins," written by and starring Nia Vardalos, the Spanish company said Thursday.
The $16 million project, which is in preproduction, will shoot almost entirely at production studio Ciudad de la Luz in the Valencia region, with Kanzaman's Denise O'Dell and Mark Albela as co-producers.
Kanzaman, producer of "Goya's Ghosts" and co-producer of "Kingdom of Heaven," set up an office in Valencia this past spring looking to capitalize on regional funds being offered to productions using La Ciudad de la Luz in the city of Alicante, located on Spain's Mediterranean coast.
"This deal demonstrates that our strategy is working," said Kanzaman chief Denis Pedregosa, who will take an associate producer credit on the film. "This is the reason we set up the new office, and the fact that it's happening just as planned means we're right on track."
The Valencia region allows for an automatic 12% rebate on local spending for pictures shooting at the new facility, with an additional 6% available depending on economic impact. The subsidy is capped at $7 million per film. To qualify, foreign shoots must use a Valencia-based service company.
Directed by Donald Petrie, "Ruins" is a romantic comedy featuring a tour guide set against the backdrop of modern Greece.
Calls to Playtone were not returned by press time.