As we reported exclusively when Andrew Gumpert left Sony to go to Paramount as COO, Lone Star Capital and the studio have been re-evaluating their deal with each other and the relationship has not been exactly working out. The financier had agreed to co-finance a full slate of films in 2014 (with CitiBank) but had pulled out of its $40M commitment with Ghostbusters previously, and they started re-negotiating deal terms afterwards.
One source with knowledge of the situation said that it’s been a long time coming and that other financiers have been lined up and/or are lining up to take their place. “It really hasn’t worked out for either side,” said the source. LStar had really stopped funding after a number of box office disappointments that included Concussion and Passengers. Of course, on paper, they looked like winners, but it didn’t turn out that way. They did, however, share the success of Spider-Man: Homecoming.
Paramount Hires Andrew Gumpert As COO
The studio has been very confident in its upcoming slate, which includes The Dark Tower, Flatliners, Granite Mountain Hotshots and its Christmas offering Jumanji: Welcome to the Jungle, and has been anticipating this possibility for some time.
Looks like a decision will come by early next week. Sony had no comment. Stay tuned.
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