Nascent Movie Company May Spend Up to $100 Million Next Year
NEW YORK (AdAge.com) -- Overture Films has made Omnicom Group's PHD its first media communications partner, according to the studio. The 6-month-old motion-picture company is expected to spend $80 million to $100 million in media in the coming year, according to people familiar with the account.Overture Films, a division of Liberty Media Corp., plans to develop, produce, acquire and distribute movies worldwide. In its first half-year of operation, it has signed on to distribute upcoming films such as "Mad Money," starring Diane Keaton, Katie Holmes and Queen Latifah; "Traitor," with Don Cheadle; and "Righteous Kill" starring Robert DeNiro and Al Pacino. The studio will start shooting "Last Chance Harvey," starring Dustin Hoffman and Emma Thompson, in London this fall.
"We strive to be on the cutting edge of developing new methods to reach movie audiences," Peter Adee, president-world theatrical marketing, distribution and new media, Overture Films, said in a statement.
"Our goal is to offer our filmmakers a fresh approach to marketing and media. In PHD, we have found an innovative partner with a strong strategic sense," said Elana Sulzer, senior VP-media at Overture.
PHD is already well known for its work with other entertainment companies such as HBO and Discovery Networks.
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