The dispute between RecordedPicture Company and Franchise Pictures which erupted at MIFED over MichaelApted's Scheherazade project hasbeen settled, and the film is now in Franchise's domain.
Recorded issued a statementtoday saying that "Recorded Picture Company and Hanway Films are pleased toconfirm that they have reached a mutually acceptable understanding with Fern ValleyLimited resolving our differences. As a result, RPC and Hanway's rights in theproject have been assigned to Fern Valley and Fern Valley has the authority to produceScheherazade and to authorizeFranchise Pictures on its behalf to licence distribution rights to thirdparties worldwide."
Fern Valley is theLondon-based entity run by Franchise partners Elie Samaha, David Bergstein andRon Tutor which last year bought post-production facility De Lane Lea.
Bergstein and Franchise hadinsisted all along that they had a signed contract to finance Scheherazade - and had already invested in the film's development- even though Recorded insisted that it owned no rights.
The dispute arose at MIFEDlast week when it emerged that both Hanway and Franchise were selling the filmto buyers.