UPI Australia, Screen Corporation seal first-look deal
Universal Pictures International Australia has signed a first-look distribution deal with James M Vernon’s Screen Corporation for Australia and New Zealand.
Universal has the option to acquire a number of films per year from Screen Corporation with a P&A financing commitment and, at times, minimum guarantees on green-lighted projects.
“We are committed to working with the best talent in Australia and Screen Corporation’s development slate fits the mandate of projects we are looking to bring to market,” Universal Pictures Australia MD Mike Baard said.
“Screen Corporation’s strategy was to implement a predictable theatrical distribution pathway for our own projects by the creation of a distribution arrangement,” Vernon said.
“Fortuitously, the opportunity arose to enter into such with Universal, one of the great Hollywood studios. Projects are intended to have commercial value and potential for wide audience appeal in the territory, with budgets ranging between A$5m and A$45m.”