iW NEWS | Cinevolve Picks Up Venezuela's Oscar Bid

Alejandro Bellame Palacios' "The Color of Fame" (El Tinte de la Fama) has been announced as Venezuela's official selection for Best Foreign Language Film at the Academy Awards by a committee of the country's film industry professionals. In a deal that will deliver this film to a variety of screens in the US, Los Angeles-based Cinevolve Studios has announced their acquisition of the film from Venezuela's Totem Films. The deal, which encompasses all domestic and international rights for theatrical (excluding Venezuela), home entertainment, television and internet and new media, was negotiated by Arik Treston and Nicole Ballivian, respectively the CEO and President of Cinevolve Studios and Totem Films. Cinevolve plans a limited theatrical release between the fourth quarter of 2008 and and the first quarter 2009, with a home entertainment release to follow. [Peter Knegt]