It's Official: Weinstein Co. Closes Deal to Retain 'Grace of Monaco' in U.S.

8:24 AM PST 05/14/2014 by Pamela McClintock

The Grace Kelly biopic — starring Nicole Kidman — made its world premiere Wednesday night at the Cannes Film Festival.

Olivier Dahan's Grace of Monaco will keep its U.S. berth at The Weinstein Co. after all.

Ending months of high drama, Harvey Weinstein and his team signed a rejiggered deal to keep the film just as the Grace Kelly biopic, starring Nicole Kidman, was preparing to make its world premiere at the Cannes Film Festival Wednesday night. CAA brokered the pact.

CANNES REVIEW: 'Grace of Monaco'

In recent weeks, The Weinstein Co. has been trying to renegotiate the $5 million fee it was originally set to pay the film's India-based financier Yash Raj Films to distribute Grace of Monaco in the United States.

TWC believed the filmmakers breached their contract by not submitting a completed film as stipulated and was looking to reduce the fee to $3 million or walk away. 

CAA, which reps the filmmakers and Kidman, had been working to broker a resolution before the festival.

STORY: Cannes: Nicole Kidman Reassures Monaco's Royal Family There Is 'No Malice' in 'Grace of Monaco'

TWC's decision to keep the film is just the latest twist in what has been an ugly war of words between the French auteur (who also directed La vie en rose) and the mogul. In October, Dahan was quoted in the French newspaper Liberation saying that he would fight to keep his version of the picture. “It’s right to struggle, but when you confront an American distributor like Weinstein, not to name names, there is not much you can do,” he said at the time. “Either you say, ‘Go figure it out with your pile of shit’ or you brace yourself so the blackmail isn’t as violent.”

In January, The Weinstein Co. took the biopic of actress-turned-princess Grace Kelly, who died in a car accident at the age of 52, off its schedule. Weinstein was caught off guard when, the following day, the film was selected as the opening night film of Cannes (the festival will play Dahan's cut).

Grace of Monaco, which also stars Tim Roth as Prince Rainier III, was originally set to open in late November 2013 for an awards-season push, but The Weinstein Co. pushed back the release to March 14, saying it wouldn't be ready in time. It is currently undated.

Further stoking the flames of controversy, the Monaco royal family blasted the movie, calling it "totally fictional" and based on inaccurate and dubious information.

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