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| Formerly | Global Road Entertainment, LLC (2017–2018) |
|---|---|
| Company type | Subsidiary |
| Industry | Film |
| Predecessor | IM Global |
| Founded | March 26, 2011; 14 years ago (2011-03-26) |
| Founder | Tom Ortenberg |
| Headquarters | Los Angeles, California, U.S. |
Key people | James Masciello Matt Sidari |
| Parent | Raven Capital Management[1] |
| Website | www |
Open Road Films, LLC (formerly known briefly asGlobal Road Entertainment) is an American independent film production and distribution company based in Los Angeles, California. It was founded byTom Ortenberg on March 26, 2011, as a joint venture between the two largest Americantheatrical exhibitors,AMC Theatres andRegal Entertainment Group, which both owned the company until it was bought out by Tang Media Partners, a media company owned byDonald Tang, in August 2017.
After Tang's purchase, both companies Open Road andIM Global merged and formed "Global Road Entertainment".[2] In September 2018, Open Road declaredChapter 11 bankruptcy. The bankruptcy did not affect TMP, IM Global or IM Global TV.
On November 6, 2018, Open Road agreed to be purchased by Raven Capital Management. Raven completed its acquisition in February 2019.[1]
In March 2011, rival theater chainsAMC Entertainment andRegal Entertainment Group announced the hiring ofTom Ortenberg as chief executive officer of a new company, Open Road Films. Ortenberg, previously an executive ofLionsgate Films andThe Weinstein Company,[3] filled out his executive team with the April 2011 hirings of Jason Cassidy (president of marketing), Elliott Kleinberg (General Counsel and executive vice president of operations and business affairs), Steven Andriuzzo (chief financial officer), and Ben Cotner (senior vice president of acquisitions).[4]
Open Road's titles are distributed in the home entertainment market byUniversal Pictures Home Entertainment (UPHE), a deal that was signed in June 2011.[5] In June 2011, a few months after it started operations, Open Road Films signed apay-TV deal withNetflix,[6] which expired in 2016. After Showtime expires in 2020, Netflix re-added Open Road movies in 2020.
The studio released its first film,Killer Elite, on September 23, 2011, directed byGary McKendry and starringJason Statham,Clive Owen andRobert De Niro.[7] Open Road's 2015 filmSpotlight received sixAcademy Award nominations and became the surprise winner forBest Picture at the88th Academy Awards, also winning forBest Original Screenplay. These were the first Oscar wins for the company.[8] Despite these wins,Spotlight was the subject of controversy including some criticism from an author ofThe New York Times calling it, "a misrepresentation of how the Church dealt with sexual abuse cases", arguing that the movie's biggest flaw was its failure to portray psychologists who had assured Church officials that abusive priests could be safely returned to ministry after undergoing therapy treatments.[9] The film's false portrayal of Jack Dunn, the public relations head and a member of the board atBoston College High School, as a member of the Boston Archdiocesan cover-up (for which the dialogue itself was mythologised) also received criticism.[10][11]
In October 2013, the studio signed a pay-TV deal withShowtime that began in 2017 and expires in 2020.[12] Open Road and UPHE extended its home distribution deal in February 2014 through 2017.[13]
On October 30, 2014, Open Road announced an international deal withFilmNation Entertainment. The deal would allow the company to purchase worldwide rights and FilmNation selling and servicing international distribution.[14]
Tom Ortenberg left Open Road Films and it was purchased by Tang Media Partners in August 2017.[15]Rob Friedman joined Tang Media Partners in August 2017 as chairman and CEO of TMP Entertainment to oversee Open Road,IM Global and IM Global TV.[16] Open Road Films merged withIM Global and formed Global Road Entertainment on October 30, 2017, with Friedman assuming the Global Road chairman and CEO posts.[2]
In 2017, the company announced plans to have a slate of approximately 15 films per year by 2020.[17][18] At theEuropean Film Market in February 2018, Global Road announced that it anticipated spending $1 billion on film and television productions over the next three years,[19] with production budgets projected to be in the $20 million to $100 million range.[19] In 2018, the company made an agreement withBlumhouse Productions to co-develop and co-finance low budget Chinese language genre films.[20]
Global Road's 2018 film distribution slate includes the teen dramaMidnight Sun, starringBella Thorne andPatrick Schwarzenegger;[21] family comedyShow Dogs, starringWill Arnett;[21] science fiction thrillerThe Silence, which it acquired for US distribution;[22] the action-thrillerHotel Artemis, starringJodie Foster andSterling K. Brown;[23] science fiction family adventureA.X.L.;[24] and animated family adventure-comedyPlaymobil: Uncharted.[24]
Upcoming Global Road productions includeSerenity, a neo-noir thriller starringAnne Hathaway,Matthew McConaughey,Diane Lane and directed bySteven Knight;[18]Richard Says Goodbye akaThe Professor, a comedy-drama starringJohnny Depp and directed byWayne Roberts;[18] the science-fiction romanceZoe, starringEwan McGregor;[18][25] andMortal, directed byAndré Øvredal.[18] The company's filmI Think We're Alone Now, starringPeter Dinklage,Elle Fanning andPaul Giamatti, premiered at the2018 Sundance Film Festival.[26]
Global Road's television arm develops scripted and non-scripted programming for both U.S. and global markets. Shows being developed includeCat's Cradle, a limited series based onthe novel byKurt Vonnegut, being written and executive produced byNoah Hawley forFX;Kilroy County, a dark comedy fromAlexander Payne andJim Taylor being developed forShowtime;Jenji Kohan'sLifetime dramaAmerican Princess;[27]Muscle Shoals, a drama in development atABC with Johnny Depp as executive producer;[28][29] the eight-part crime dramaCold Courage, based on the novels by Pekka Hiltunen;[30]Fried Chicken and Latkes, an adaptation ofRain Pryor's one-woman comedy show;[31]Jett, a crime drama starring and executive produced byCarla Gugino forCinemax;[32] the reality cooking competitionFridge Wars forCanada'sCBC network;[33] and global rights toIdiotest, based on theGame Show Network quiz show.[34]
In January 2018, Global Road signed a development deal withReginald Hudlin and Byron Phillips through their company New Nation Networks, under which Hudlin and Phillips would develop and produce original content for Global Road.[35] Later that month, the company signed a first-look television deal withAdam Shankman andJennifer Gibgot's production companyOffspring Entertainment;[29] projects announced under this deal includeWolfgang, based on the life ofWolfgang Amadeus Mozart, and an untitled comedy from husband-and-wife actor-producersCarlos andAlexa PenaVega.[29] Around the same time, Global Road also announced co-development deals withFrench production companyNewen and theUkrainianFilm.UA Group.[33]
Global Road's film unit was taken over by its primary lenders,Bank of America andEast West Bank, in August 2018 asDonald Tang had not raised enough funds for Global Road. Lenders did have Global Road releaseA.X.L. while stopping the release ofCity of Lies, slated for September 7, 2018.[36][37] With A.X.L. not doing well at the box office, the company was forced to lay off employees without severance, a requirement of the lenders. The company was also looking to sell a number of its upcoming films,Paws of Fury: The Legend of Hank,City of Lies,The Silence,Duck Duck Goose,Arctic Justice andPlaymobil The Movie; it was also "backing out of" development forThe Secret Garden.[36] The company was also sued along with TV rights distributorMiramax by lender Bank Leumi over loans forCity of Lies.[38]
On September 6, 2018, Global Road's film unit filed for Chapter 11 bankruptcy.[39] On October 23, 2018, Global Road filed with the court plans for an auction of its assets beginning November 7 with a stalking horse bidder selected with term of $800,000 in expenses coverage and a $2.1 million outbid fee if approve by the judge.[40] In November 2018 after lack luster auction bidding, Open Road agreed to be purchased by Raven Capital Management for $87.5 million pending court approval.[41] On December 19, 2018, a Delaware bankruptcy judge approved the purchase and the acquisition took effect on February 7, 2019.[1]
Open Road Films indicated its comeback in June 2020 at the virtual Cannes by announcing its recapitalization by Raven and named the production company's leadership of Raven principal James Masciello with key assistance from Matt Sidari. The company also announced it was partnering withBriarcliff Entertainment, Tom Ortenberg's new company, in acquiring and releasing films starting withHonest Thief. Raven also indicated that it was a financier of Sculptor Media, whom Raven would look toward for development and production of films.[42]
In August 2017,Rob Friedman was named Global Road's chairman and CEO after Eric Hohl left the company.[2][22] Rodolphe Buet was named president of international in October 2017,[18] and the following month Lynn Harris was named president of worldwide production.[43][44] In early 2018, Jack Pan was named president of worldwide theatrical marketing.[45]
In March 2018, the company announced several new hires to their international operations division, including Charlotte Van Weede as President of International Sales (replacing Michael Rothstein); Brad Kembel as Executive Vice President of Distribution and Operations; Melissa Martinez as Executive Vice President of International Marketing; and Sarah Genazzani as Director of International Marketing, with Executive Vice President of International Sales Tatyana Joffe extending her contract to work with the new team.[46]
The scene depicts a fairly common exchange involving reporters who have unpleasant questions to ask and a skilled public relations person doing his best to frame a story in the most favorable way possible for the institution he is representing. That's what Jack did that day.
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