Overture going global with Par
Liberty Media prod'n arm in deal for int'l output
The agreement gives Overture, the new production/distribution company under the umbrella of Liberty Media/Starz, access to PPI's distribution arm as well as use of Vantage's newly installed international sales team.
The deal gives Overture an international platform for its movies while it assembles its own domestic system. At the same time, it feeds the needs of PPI, which was formed when Paramount Pictures' partnership with Universal Pictures in the international distribution entity UIP dissolved.
"Our goal has been to aggressively expand our international operations," Vantage co-president Nick Meyer said. "A partnership with a great company like Overture helps us to grow our business at a faster rate with terrific product."
Added Overture COO Danny Rosett: "This is the final piece of our worldwide distribution strategy. We have a partner that allows us to access full-service international capability. Nick has assembled a first-rate sales division, and we also have the ability to distribute directly through PPI."
Borys Kit reported from Los Angeles; Tatiana Siegel reported from Cannes.