Three months after Deadline broke the story that director-producers Joe and Anthony Russo were near a major deal with 20th Century Fox for their unnamed production film and TV company, Fox confirmed today that the two sides couldn’t agree to terms and the pact was scrapped.
The planned co-financing and distribution deal was supposed to make in time for the Russos’ company to fully launch in January after the brothers complete back-to-back Avengers sequels. Sources at the time said potential deal was a long term non-exclusive pact for Fox to co-finance and distribute worldwide features generated by the new venture. The company would have put pictures included, and the venture would provide the other half of the financing for its films.
It was understood other studios were kicking the tires of teaming with the Russos, but it’s unclear if another potential partner is in the offing.
The Russos have been working on the launch of their venture for more than a year, with an eye toward directing films and producing others, and creating a feeder system for emerging talent. They are building space in L.A.’s downtown art district, and the venture is expected to have a name, a full creative staff and more film and TV productions set by the beginning of the year.
A deal like this would allow them to launch as a funded mini-major.
Variety first reported news of the split today.
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