The only interesting part of this deal is that now CBS Films will compete with Paramount films. Look what Sumner Redstone’s dunderhead decision to completely separate them into public companies has wrought. It’s finally official that CBS Films is doing their own domestic theatrical and television distribution as well as retaining rights in a limited number of foreign territories. The company then put the rest of their international theatrical and wordwide video distribution out for bid. So Sony Pictures’ Peter Schlessel and Jeff Blake signed a 3-year marketing and distribution deal. Sony Pictures will handle international theatrical distribution of CBS Films productions as well as service worldwide distribution of the unit’s films in the home entertainment marketplace. It’s taken since 2007 for CBS Films to get up and running and now plans to develop and produce four to six movies a year spanning all genres, with production budgets up to $50 million per film. CBS Films and Sony are already collaborating to produce Faster, set to begin production in early 2010.
Subscribe to Deadline Breaking News Alerts and keep your inbox happy.