The early renewal calls for 6 additional distribution slots, bringing The Blind Side filmmaker Alcon Entertainment’s total films to 15 through 2015. As part of this pact extension, Alcon has the option to develop, finance, and produce a slate of more modestly budgeted features not necessarily intended for distribution by Warner Bros, which will retain its first right of refusal. Until now, Alcon has developed, financed, and produced motion pictures exclusively for Warner Bros to distribute domestically and as well as internationally on a case-by-case basis. The current pact between the two companies expires in 2013 and today’s renewal was was jointly announced by Warner Bros Pictures Group President Jeff Robinov and Alcon co-founders and co-CEOs Andrew Kosove and Broderick Johnson who said in a statement: “We greatly appreciate the support and loyalty that Jeff and the entire Warner Bros team have shown Alcon throughout our long relationship with the studio. The opportunity to continue our collaboration with their team gives us confidence that we will be able to successfully execute this next phase of Alcon’s business plan.”
As it has for the past 13 years, the agreement calls for Alcon to finance and produce 3 motion pictures per year for Warner Bros to distribute either on a worldwide basis or solely in North America at Alcon’s discretion. Alcon will continue to develop, fully finance, produce, and ultimately assume all P&A expenses for its motion pictures. Alcon also will continue to work closely with Warner Bros’ marketing and distribution teams on each film. Alcon maintains full greenlight authority.
The deal was negotiated for Alcon by Scott Edel, Alcon’s outside legal council at Loeb & Loeb; Scott Parish, Alcon’s COO and CFO, and David Fierson, Alcon’s SVP of Business Affairs. Kosove and Johnson founded the Company in 1997 with financial backing from Fred Smith, the FedEx founder/chairman/CEO. Alcon, which is named after a mythological archer and ally of Hercules, has financed, and/or co-financed/produced over 19 films, including My Dog Skip, Dude, Where’s My Car?, Insomnia, Racing Stripes, the Academy Award nominated Best Picture The Blind Side which earned Sandra Bullock a Best Actress Oscar; The Book of Eli, Insomnia, The Sisterhood of the Traveling Pants, P.S. I Love You, Something Borrowed, and the upcoming Dolphin Tale and Joyful Noise.
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