Open Road Films has a announced a a multi-picture development financing deal with Crystal City Entertainment/Boundary Stone Films today for all of Open Road’s own productions during the coming years. Two to four films a year are expected to be developed through the deal, with each film getting a wide domestic release via Open Road and foreign sales being handled by Open Road International and partner FilmNation. No financial details were made available.
Crystal City/Boundary Stone already have partnered on projects like Coach Willie with Gulfstream Pictures, the Van Cliburn biopic at Temple Hill starring Ansel Elgort, and a slate of films with Cross Creek Pictures.
“We are delighted to be joining forces with the teams at Crystal City Entertainment/Boundary Stone Films,” said Open Road CEO Tom Ortenberg. “Their development financing investment will lay a strong foundation for future projects.”
On the distribution side, Open Road acquired the Boston Church investigative journalism drama Spotlight which is now in the running for the Oscar Best Picture among six Academy Award nominations. The company’s only in-house production to date is Sleepless Night, the action thriller starring Jamie Foxx and Michelle Monaghan, which they are financing and distributing.
Said Ari Daniel Pinchot of Crystal City Entertainment/Boundary Stone Films: “Led by Tom Ortenberg, Open Road Films has a fantastic track record and a top notch team in motion picture marketing and distribution. We are confident that backing their productions in the earliest stages is a smart investment for our companies.”
The deal was negotiated by Open Road’s Ortenberg and Elliott Kleinberg, Pinchot for Crystal City and Mark Schacknies for Boundary Stone.