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Legacy Releasing Secures Wealden Funding; Jersey Leaving October; mPRm Formed

Indiewire By Indiewire | Indiewire July 16, 1998 at 2:0AM

Compiled by Eugene Hernandez>> Legacy Releasing Makes a Move With Major Funding From Wealden Corp.
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Compiled by Eugene Hernandez




>> Legacy Releasing Makes a Move With Major Funding From Wealden Corp.

Legacy Releasing announced yesterday that it has formed a joint venture
with The Wealden Company -- through the arrangement, the investment company
will give the distributor up to $5 million, on a film by film basis, for
acquisitions, prints, and advertising. The move is a shift for Legacy which
traditionally made output deals with foreign distributors, home video companies,
and studios. Commenting on the deal in a prepared statement, Legacy president
Mark Borde explained, "With Wealden's financial resources, Legacy will be able
to secure rights to first-rank independent motion pictures, and then to
directly control distribution patterns, marketing, and sales of ancillary
rights." A Legacy spokesperson told indieWIRE yesterday that the deal is
the first of several such arrangements that are being made to bolster Legacy's
ability to buy and distribute finished films. The company is currently
releasing S.R. Bindler's popular documentary film, "Hands on A Hardbody."


>> Jersey Shore Reportedly Ending Distribution Deal With October

Variety reported yesterday that Jersey Films has pulled out of its
distribution arrangement with October Films, just two months after
announcing the deal. According to the Hollywood trade, the decision
revolved around October and parent company Universal's decision not to
give the company autonomy and "greenlight" ability. Variety reported that
the deal, which was announced in April, had not yet been signed.
Speculating on other reasons for the break up, the publication indicated
that it raises issues about October's committment to "edgier product",
considering that the news comes on the heels of the recent announcement
the October has dropped Todd Solondz' critically acclaimed Cannes entry,
"Happiness."


>> Pogachefsky, McAllister and App become mPRm

Rachel McCallister & Associates, The Pogachefsky Company and KillerApp
Communications
, have formalized their association to become mPRm, a
pr and marketing outfit handling entertainment and new media
accounts, the company announced yesterday. Rachel McCallister and Mark
Pogachefsky will serve as co-presidents for the new agency, while
Senior VP John Murphy heads the NYC office and Sr. VP Alan Amman, handles
TV, home video and consumer products as well as human resources;
VP Laura Kim runs the film division, VP Julie Gladders leads the interactive
division; and VP Jose Estella is in charge of finance and administration.
Finally, Michael Lawson, is working with mPRm as a VP handling "corporate
clients that overlap divisions".