Universal Signs Three-Year Deal With 'Black Swan' Producer Cross Creek Pictures
Universal Pictures and up and coming producing and financing entity Cross Creek Pictures have signed a three-year distribution deal.
The pact covers a minimum of six pictures that will be produced and financed by Cross Creek.
At the same time, Universal is opening its development slate for projects that Cross Creek can produce and finance.
The first project to fall under the deal will be Rush, the Ron Howard-directed racing project starring Chris Hemsworth and written by Peter Morgan. Cross Creek is co-financing and co-producing the project with Exclusive Media Group.
A second project, still not determined, may be The Creed of Violence, a Todd Field-directed Western being produced by Michael De Luca that has Leonardo DiCaprio circling.
Cross Creek, run by president Brian Oliver and CEP Timmy Thompson, hit it big with their its movie, Black Swan, which grossed $329 million worldwide on a budget of $13 million.
The company is involved in the George Clooney-directed political thriller The Ides of March, which opens Oct. 7, and has The Woman in Black, starring Daniel Radcliffe, coming out Feb. 3, 2012. Cross Creek partnered with Exclusive Media on both projects.
According to Universal and Cross Creek, the budget range for Cross Creek projects will range between $15 million and top out at $65 million. The plan it to keep most projects between $25 and $35 million.
Cross Creek hopes to produce three or four movies a year with Universal giving at least two of them a wide screen commitment.
CAA repped Cross Creek in the deal.