Summit Entertainment has set up its own Latin Americandistribution operation in alliance with LA-based Pedro Rodriguez who formerlyran the Latin distribution consortium Nu Vision Network.
The outfit, International Distribution Company (IDC), hasset up a fixed structure of distribution partners in each Latin territory whichwill handle 5 or 6 Summit titles a year.
IDCV has also established anacquisitions fund financed by a New York hedge fund that plans to buy eight significanttitles a year. First films acquired are Valiant from Odyssey, which grossed $5.2m in Latin Americafor IDC, and Tsotsi from LittleFilm Company.
Unlike Nu Vision, IDC isnot a consortium of buyers teaming up to make acquisition decisions. "We'retaking the risk," explained Summit COO Bob Hayward.
"Obviously we consult withthe distributors but we are buying for all Latin America as one entity and thendistributing through fixed theatrical and video distributors in each market."
Summit is handling its ownDVD duplication through Videolar in Brazil and Technicolor in Mexico.
In Mexico, IDC works withVideocine for theatrical and Paramount Home Entertainment for video. In Brazil,Europa is handling both theatrical and video; in Argentina, Alfa Film ishandling theatrical and Plus Video video.
Other partners are BlancoY Travieso in Venezuela, Cine Colombia in Colombia, Bazuka in Chile, VenusFilms in Peru and Ecuador, Bella Vista in Bolivia and California Investments inCentral America.
In Uruguay, Movie Centeris handling theatrical and Censa is handling video. Films handled by Summit onan agency basis are given the option to go through IDC to play the upside, butSummit will continue to sell them on behalf of producers to all distributors.George Clooney-starrer Michael Clayton, for example, was sold to Brazil but the producers opted to go throughIDC in Spanish-speaking Latin America.
Summit-owned titles to gothrough IDC will include musical Step Up, which Disney is handling in North America, The Alibi and Adrift.
"It's a developing marketand IDC buys us more upside," said Hayward. "It gives us full reporting fromthe whole continent and gives us greater sophistication to handle grossparticipation."