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14 Jan 2003

Around the World in 80 Days: Paramount Pictures is Backing out

Around The World in 80 DaysNot 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."

 

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