The Icon boss has outlined more details of the distribution during at the American Film Market.
Speaking at the AFM, Icon CEO Stewart Till has revealed further details of the partnership between Icon and The Weinstein Company (TWC).
Till also insisted that the alliance with TWC won’t affect Icon’s ongoing plans to set up a pan-European distribution network.
Russion billionaire Len Blavatnik’s Access Industries will provide financial support for a production fund of up to $100 million. Both Icon and TWC can bring projects to the Fund. TWC will have North American distribution as well as Germany, France and Australia. Icon will have the rest of international, including the UK. Films have to be greenlit by both parties.
The Icon boss said one key attraction of the deal is that films supported through the Fund will “come with US distribution by definition in place if we want to make them.”
The aim is to make two to three films a year in the $5 to $20 million range.
“Harvey (Weinstein) has already given us a couple of scripts he likes. One of them we really like,” Till said. He declined to give details of the project beyond saying that it was a “horror thriller”.
Asked about being in business with as formidable a figure as Weinstein, Till responded: “I am huge fan of Harvey. If some of that Weinstein magic and personality rubs off on us, so be it. Equally, it’s not an exclusive relationship.”
Till explained that the two or three films that will come out of the Fund will still be a “minority” of the Icon slate. “It’s not a joint venture or coming together or some exclusive relationship,” he said. “It is just two companies working together.”
He added that it is “an additional fund to our existing working capital. We get access to projects we probably wouldn’t have got hold of, and that come attached with US distribution, which is a scarce resource at the moment.”
Till remains keen for Icon to build a pan-European network but acknowledged that this will take time.
“We have definitely slowed down. It is such a difficult time for independents at the moment. It’s as scary as it has ever been.”