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news
Day 5
/ Sunday 20 May
Cannes Market News
3
Jason Becker
Is Alive!
Schreiber for
“Mars” Movie
DOGWOOF Global Sales announces
sale of all rights to KinoSmith, Canada,
for the new documentary
Jason Becker:
Not Dead Yet
by Jesse Vile.
The film premieres at the Marché today.
Further talks are being held
with distributors in the USA, Italy, France,
Taiwan, and Benelux. Jason Becker, a
guitar prodigy, was hired as lead guitarist
in David Lee Roth’s band. From this,
he should have been a household name
but, soon after joining the band, Jason
was diagnosed with ALS, a disease of the
nerve cells in the brain. he was given five
years to live. More than 20 years later,
Jason is still living and making music
by communicating with his eyes.
JN
PRINCIPAL photography has begun
on
Last Days on Mars,
starring
Liev Schreiber (
Salt
,
X-Men Origins:
Wolverine
). Filming will take place
in Jordan and at Elstree Studios
in the UK. Universal Pictures will
release the film in the UK while Focus
Features International is handling sales
and distribution for all other territories,
and is currently selling the film
at the Cannes market. Directed by Ruairi
Robinson (
Fifty Percent Grey
), the sci-fi
horror film is based on a short story by
Sydney J. Bounds and adapted by Clive
Dawson. The film is produced by Michael
Kuhn (
The Duchess
) and Andrea Cornwell
(
The Scouting Book for Boys
).
JN
A
BU DHABI yesterday
announced its incentive
scheme – the first
in the region – under
the auspices of media
hub twofour54 and the Abu Dhabi Film
Commission. Operational from September,
it takes the form of a rebate of up to 30%
of qualifying spend in the Emirate,
and will be available for feature
films, TV, documentary, commercials
and music videos.
Launching the scheme in Cannes,
Wayne Borg, deputy CEO and COO
of twofour54, says the purpose
of the incentive is to attract regional and
international productions to Abu Dhabi:
“This initiative represents the culmination
of all our efforts to put in place all the key
ingredients to reinforce our position
as the regional hub and go-to place
for producers. This is our commitment
to the film and TV production industry.”
Borg says the aim is to accelerate
production activity, with a view to fuelling
the development of the regional media
industry “by providing the opportunity
for Arab filmmakers, crew and production
support companies to work alongside
their international counterparts”. Among
the productions recently to have shot with
twofour54 are Tony Gilroy’s
The Bourne
Legacy
and Priyadarshan’s big-budget
Bollywood film,
Oru Maru Bhoomi Khatha
.
The Abu Dhabi incentive is one of a
number of funds and finance schemes,
public and private, highlighted in Cannes
this year. Financier and production
company AngelWorld Entertainment
(AWE) and independent merchant
bank First Wall Street (FWS) yesterday
announced the launch of a $150m equity
fund for the financing of independent
productions. AWE founder and CEO
Darby Angel says the fund aims
to “provide support to independent
producers, while also protecting
the investors whose risks and returns
we take very seriously”. FWS Founder,
Chairman and CEO Glenn Myles
says the fund is a response to “a need
in the market for a finance structure
allowing for the equity investor to sit
in the first position”.
In other funding news, Paris-based film
consultancy and investor Backup Media
Group is in Cannes with B Media Global,
aimed at non-French movies. The fund will
invest in foreign movies, providing gap
finance against international sales.
Announced in Berlin in February, B Media
Global will take equity positions on movies
in the €1m-to-€15m range. The company
has expressed interest in commercially
ambitious films now coming from
Latin America. In France, Backup has
traditionally offered between 5% and 10%
of a film’s budget in completion finance.
But B Media Global could invest up to
40%, depending on budget and collateral.
“The fund allows us to provide financing
for non-qualifying French films, which
is new in France,” Joel Thibout of B Media
Management, which is overseeing the
fund, says. “We will be able to provide
financing for producers from any country.”
Thibout says that the company is signing
its first deals here in Cannes this week.
Available to delegates at the Marché du
Film is The Funds Book 2012, which gives
details of public funding organisations
represented at the Festival. The book
details, country-by-country, the film
commissions and other public bodies
offering incentives and other forms
of financial assistance to productions.
Liza Foreman and Julian Newby
Abu Dhabi
Launches the Emirates’
First Production Incentive Scheme
quote
of the day
We call for Cannes, and other film festivals worldwide,
to commit to transparency and equality
in the selection process.
Extract from a petition written by
Women and Hollywood
(18 May 2012).
the buzz
of the day
Tony Gilroy’s
The Bourne Legacy
was shot in part in Abu Dhabi.
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