Graham King's Initial Entertainment Group (IEG) is deepening its in-house production programme, striking a deal with Michael Douglas' Furthur Films to develop and finance Racing With Monsoons.
The action-adventure is written by Gloria Katz and Willard Huyck, who co-wrote Indiana Jones And The Temple Of Doom and American Graffitti. Set in the world of diamond-smuggling in India, the film is "the closest thing you'll get to Romancing The Stone," said King, referring to Douglas' 1984 film.
IEG has a strong relationship with Douglas, who starred in its 2000 hit Traffic and whose wife Catherine Zeta-Jones has housed her production outfit Milkwood Films at IEG. Douglas and Zeta-Jones are also lined up to star in Smoke And Mirrors for IEG, although production is on hold since it is to shoot in Morocco.
Racing With Monsoons is part of a development initiative at IEG following pricey studio co-ventures such as Gangs Of New York and Ali. "I get offered movies from studios all the time, but I'm just not finding the material at the moment," King said. "After working with directors like Steven Soderbergh, Martin Scorsese and Michael Mann, I have to ask where do we go from here' We have to go into development."