CANNES: Now that former president of international sales and distribution Alex Walton has announced his new company Bloom, US operations at Exclusive Media are expected to wind down quickly.
What will remain of Dasym-owned Exclusive Media and continue as going concerns are the 800+ library and UK-based genre label Hammer run by Simon Oakes.
The popular Walton has transitioned his international team with him to the new venture, backed by producer-financier and Waypoint Entertainment founder Ken Kao.
The extraction of the sales team, allied to the fact that Bloom will continue to sell and service outstanding titles on the Exclusive Media slate, foreshadows the demise of the production division under president of worldwide production and acquisitions Tobin Armbrust.
The short-lived Exclusive Releasing’s days are numbered once the US distribution operation has met all its obligations. Release titles included Adore (pictured) and Parkland.
Da Vinci Media Ventures, backed by UK entrepreneur Toby Moores and spearheaded by Wendy Rutland, will honour any obligations in its equity deal with Exclusive Media announced at Cannes last year before the deal winds down.
Under the terms of that deal, Da Vinci assumed an equity position in four titles, among them the Keith Moon project, on which former co-chairman Nigel Sinclair still serves as producer.
Sinclair and Guy East exited Exclusive Media as co-chairmen earlier this year to set up White Horse Pictures. COO Marc Schipper was promoted to Exclusive Media CEO.