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CANNES ’06 MARKET DAILY: Equation/Swift Snags “Red Road;” Europe Goes Global; TWC Gets Social; Dubai

CANNES '06 MARKET DAILY: Equation/Swift Snags "Red Road;" Europe Goes Global; TWC Gets Social; Dubai

Trust Film Sales has announced its sale of Andrea Arnold‘s competition film “Red Road” and Anders Morgenthaler‘s “Princess” to Didier Costet‘s company, Equation/Swift. Costet said in a statement, issued by Trust, “I am very happy and pleased once again to work with Trust Film Sales. This is my second competition film that I buy in Cannes.” Among his other acquisitions are Susanne Bier‘s “After The Wedding.” [Eugene Hernandez/indieWIRE]

[indieWIRE’s Cannes ’06 Market Daily column is being published in the Cannes Market News print dailies, produced by Le Film Francais and the Marche du Film. 13,000 copies of the English-language publication are available in all festival venues, hotels and throughout Cannes.]

Cannes Europe Day to “Go Global”

European Ministers of Culture and European Commissioner Viviane Reding will join the President of the Festival de Cannes Gilles Jacob in climbing the steps of the Palais des Festivals for the screening of “Il Caimano” by Nanni Moretti for the fourth “Europe Day,” taking place in Cannes Tuesday. During the Europe dinner, which will follow, Viviane Reding will announce the “New Talents Prize” winner. “European Films Go Global” is the theme of Europe Day, which will kick off with a discussion at a 9:30 am gathering with the Ministers of Culture as well as industry-professionals, including the Dardenne brothers, who won the Palme d’Or last year for “L’Enfant” and will be this year’s guests of honor. [Brian Brooks/indieWIRE]

A scene from Nanni Moretti’s “Il Caimano.” Photo courtesy of the Cannes Film Festival.

NonStop Gets Irreverent

Stockholm-based international sales agent NonStop Sales has inked a multi-pic agreement with Vancouver-based Irreverent Media Ltd. The slate includes “The Best Restaurant in the World Ever,” which THINKFilm will release in Canada. Also on tap are “The Light-house” and mockumentary “Gay Like Me?” NonStop’s Michael Werner and IML‘s Tom O’Brien negotiated the deal, which was initiated during the Berlinale in February. The group are also underway with co-ventures “My Italian Cafe,” “Bella Luna,” and “Dim Sum Funeral.” IML is a Canadian-based production company which develops and produces English-language feature films. [Brian Brooks/indieWIRE]

TWC Goes Social

The Weinstein Company has made a “significant” investment in, an online social network that brings together what the company describes as “highly influential people from all over the globe.” TWC is leading a group of other prominent investors, which includes Bob Pittman though financial terms of the transaction were not disclosed., founded by Erik Wachtmeister in 2004, is a global online community of 130,000 members from over 100 countries. [Brian Brooks/indieWIRE]

Celluloid Correction

Celluloid Dreams wishes to clarify that the English language remake of Michael Haneke‘s “Funny Games” will not be under the new label Celluloid Nightmares. Celluloid apologizes for any confusion caused by the previous announcement.

Edinburgh International Film Festival Establishes Doc Prize

The Edinburgh International Film Festival has established a new award for international documentary features, the festival’s artistic director Shane Danielsen and managing director Ginnie Atkinson announced Monday in Cannes. In addition, the festival will host a 1970’s retrospective during this year’s event, which takes place August 14 – 27 in the Scottish capital. [Brian Brooks/indieWIRE]

Dubai Internation Film Festival expands its program

The ongoing theme of the Dubai International Film Festival is expanding this year with the addition of a new award and two new artistic directors who will focus on bringing in both Arab and non-Arab films.

The Sheikh Zayed Award is the festival’s new lifetime achievement award that will honor an international filmmaker whose films reflect the theme of the festival’s “Operation Cultural Bridge.”

In addition to the new award, the festival has two new artistic directors: Masoud Amralla Al Ali and Simon Field, who will oversee the film selection and programming. Al Ali will be in charge of selecting Arab films, while Field will be in charge of selecting non-Arab films. The festival will be held from December 10-17 this year. [Kristina Woo/indieWIRE]

Buskin Film and Mg Lab go into co-production partnership

Rome based co-production company Buskin Film has partnered up with Turin based Mg Lab, the European and American private funds administrator, to co-produce 10 films in the next three years with an investment of $20 million. In doing so, the two companies would be able to offset about 25% of the total budget of an internationally co-produced film if part of it is set in Turin. The companies’ first two films that fall under these stipulations will be director Ted Nicolaou‘s “Etruscan Mask” and director Marco Carniti‘s “Sleeping Around” both to be produced by Buskin Film. [Kristina Woo/indieWIRE]

New Hungarian film to be sold at Market

Hungarian director Krisztina Goda just wrapped principle photography on the new film “Children of Glory,” whose producer Andy Vajna brought rough footage of the film to Cannes and to promote to potential buyers. Additionally, Vajna is here to meet with Fortissimo FilmsMichael J. Werner, who has just signed on as the film’s specialist sales and marketing consultant. About Hungary’s Revolution of 1956, the film’s star Kata Dobo is here in Cannes to promote her film with the producer. [Kristina Woo/indieWIRE]

Thessaloniki Film Festival makes its presence known at Cannes

This year marks the first year in which the International Thessaloniki Film Festival will be at the Cannes Film Festival, in the form of its pavilion in the International Village that will be run in cooperation with the Greek Film Centre. This endeavor will provide a mode though which Greek filmmakers can present their work to the international marketplace. The pavilion is available to Greek filmmakers as a meeting place and promotional hub for Greek cinema. This year’s International Thessaloniki Film Festival will take place on from November 17-26. [Kristina Woo/indieWIRE]

IDT Entertainment seals Horror deal

IDT Entertainment Sales have sold their “Masters of Horror 2” and “Masters of Science Fiction” to Germany’s Splendid Films, as announced by IDT’s Executive Vice President Andy Berman. On the roster to direct the series are such horror directors as Dario Argento (“Suspiro“), John Carpenter (“Halloween“), Joe Dante (“Gremlins“), Tobe Hooper (“Poltergeist“) and John Landis (“American Werewolf in London“).

In addition to IDT’s deal with Splendid Films, IDT has also entered into a binding term sheet agreement with Liberty Media Corporation for the sale of IDT to Liberty. [Kristina Woo/indieWIRE]

Christian Hosoi skates into Cannes for “Rising Son”

Vision Films‘ new skateboard documentary “Rising Son,” about the rise, fall and reinvention of skateboarder Christian Hosoi, will make its Cannes Market debut on Monday, May 22. Narrated by Dennis Hopper, the film includes interviews with Tony Hawk, Tony Alva, Jason Lee and others who were all friends and fans of Hosoi’s. “Rising Son” marks the first time Hosoi has spoken about his life and career after his recovery from drugs and prison, from where he was released in 2004 on drug charges. Produced by Jared Freedman, Quincy Jones and Cash Warren, the film’s American distribution will be handled by Image Entertainment but will be on the Market for all international territories. Hosoi will be in Cannes promoting the film from Monday, May 22 to Tuesday, May 23. [Kristina Woo/indieWIRE]

“Buddha” to be India’s biggest film to date

Indian telecommunications mogul and billionaire Dr. Bhupendra Kumar Modi‘s Buddha Films, a subsidiary of his company Mcorp Global, has optioned the rights of the international best seller “Old Path White Clouds” by author and Buddhist monk Thich Nhat Hanh to be made into a $120 million epic. The book, which recounts Buddha’s life and death and is considered to be the leading book on Buddhism, is being adapted into an English language film and will be executive produced by Handpicked Films‘ producers Michel Shane and Anthony Romano.

To be shot in the US, Japan, China, Thailand and India, the film is set to be the most expensive film ever to be shot in Dr. Modi’s home country. Not only are A-list stars being courted for the lead roles, but the Dalai Lama has given his blessing and will consult on the film. Hanh and Dr. Modi are both in Cannes to finalize their deal. [Kristina Woo/indieWIRE]

[Get the latest from the Festival de Cannes throughout the day in indieWIRE’s special Cannes ’06 section.]

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