Australia's Village Roadshow Pictures Entertainment (VRPE) and Warner Bros have expanded their two year-old co-financing and co-production agreement which called for 20 pictures between 1998 and 2002, by adding 20 more films over the next five years (2000-2005).
The deal extension means that VRPE will have invested more than $1 billion into 40 films by 2005.
Warner Bros will continue to handle distribution of the films worldwide apart from those territories in which Roadshow has its own distribution operations, namely Australia, New Zealand, Singapore and Greece.
Since VRPE partnered with Warner Bros in Dec 1997, the company has enjoyed a run of hits starting with Practical Magic (worldwide gross: $81m), Analyze This! (worldwide gross: $176.8m), The Matrix (worldwide gross: $456.4m), Deep Blue Sea (worldwide gross: $160.6m) and Three Kings (worldwide gross to date: $65m).
The expansion of the deal was announced by Graham Burke, managing director of Village Roadshow Ltd and Bruce Berman, chairman and CEO of VRPE together with Barry M Meyer, chairman and CEO of Warner Bros and Alan Horn, its president and COO.
Under the terms of the deal with Warner Bros, the two companies finance production of the films equally. Warner Bros distributes the movie worldwide with the exception of the Village Roadshow territories. After marketing expenses are deducted and Warner has taken a (reduced) distribution fee, the two companies split what revenues remain.
COMPLETED VRPE PICTURES
VRPE PICTURES IN PRODUCTION
SELECTED VRPE IN DEVELOPMENT