News
14 Jan 2003
Around the World in 80 Days: Paramount Pictures is Backing out
Not
to worry though, the show will go on without them and filming should start in
March. Here's the story: "Variety says that Philip Anschutz's Walden Media has
the weight of the "World" on its shoulders. Paramount Pictures confirms that it
will not act as the domestic distributor of Walden Media's Around the World in
80 Days, which stars Jackie Chan and will be directed by Frank Coraci (The
Wedding Planner). Paramount made the deal last summer and had slotted the pricey
film as a holiday tentpole, with a November 21 release date. The picture is
budgeted in at around $110 million. Despite the studio's departure, the film
will not cancel its March production start. Given the pay-or-play deal for Chan,
as well as investment in elaborate sets, failure was not an option. For now,
financing comes from foreign sales made by Patrick Wachsberger's Summit
Entertainment. Walden, which is backed by billionaire Anschutz, covers the gap."