Tom Ortenberg has One Way Out
Former Weinstein Co. exec launches own firmNEW YORK -- Less than a week after announcing his departure from the Weinstein Co., film veteran Tom Ortenberg has launched One Way Out Media.
The film company will furnish financing to indie productions for as much as $5 million a picture and will do everything from providing finishing funds to coming in on co-productions and even acquiring North American rights and distributing films itself.
The company also will offer consulting services, guiding other companies in such areas as acquisitions, production, distribution and awards publicity.
"There's been a bit of an overcorrection in the indie world," Ortenberg said, describing the impetus for his venture. "There are good projects that are not getting made, and good pictures that are made that are struggling to get themselves properly marketed or distributed."
The entity, which aims to add a few staffers, has secured some financing but is continuing to arrange more coin.
Ortenberg is a longtime veteran of Lionsgate, where he oversaw the theatrical release of such critical and commercials successes as "Away From Her" and "Crash." He left his job as president of theatrical films at TWC after about 10 months.
Ortenberg joins a list of indie and specialty execs who have started companies, including ThinkFilm and Senator alums Mark Urman and Bob Berney.
"I think, almost by definition, those who have been involved in the independent film world are entrepreneurial," Ortenberg said. "I've always had entrepreneurial leanings, but I've recently began putting the details on paper and am ready to run with them."