Chatsworth, CA, November 12, 2009 --(PR.com
)-- Essential Entertainment’s President of Worldwide Distribution, John Fremes, announced a multi-picture agreement today at AFM with Gigapix Studios (“Gigapix”) for five “G” and “PG” rated live action kids films through its subsidiary Recess Films. The five live action films and one CG animated film will be produced by Gigapix Studios over the next three years. Anchor Bay Entertainment will have rights for first look in the U.S. with Essential Entertainment handling all International rights. “This is an exciting slate of films that are in the framework of classic kids action comedy films like Home Alone and Goonies. These are films that have strong international appeal, universal themes, and broad comedic elements that we believe will work across all international platforms,” says Fremes.
Anchor Bay Entertainment and Gigapix have entered into a multi-year first look arrangement on the Recess Film slate where Anchor Bay will be releasing the films in theatrical, home entertainment and television with a commitment from Gigapix to fund a minimum P&A outlay of $6mm and 600 screens per film depending on how well each of the films tests in advance screenings. Each film release may go up to $20mm and 2,000 screens.
Kevin Kasha, Senior Vice President of Anchor Bay Entertainment added, “We are excited to be in business with the production team assembled at Gigapix and to have a worldwide distribution partner in Essential Entertainment. Quality kids’ films are going to continue to be a staple of family entertainment spending as they always have been.”
The first film, The Return of Captain Kidd, written by Jymn Magon (DuckTales, A Goofy Movie) and Kern Konwiser, two-time Emmy winning writer/director/producer (On Hallowed Ground and Miss Evers' Boys), is to be directed by Kern Konwiser.
According to Kip Konwiser, head of production at Gigapix, “All of the live action films will have production budgets of $8-10mm each and the CG animated film will be budgeted at $20mm. This first film in the slate, The Return of Captain Kidd, was on the verge of production when it was caught in the temporary suspension of the Iowa State film tax credit program. Gigapix has been assured by the Iowa State representatives that their film has an agreement in place, consequently Gigapix has chosen to go forward on the production with an early 2010 start date. Currently, cast is being reassembled for a revised start date. We will be announcing the start of the next two live action films and production on our CG animated film within a few weeks.”