Marvel, Paramount Sign Film Pact
Paramount Pictures will distribute up a slate of films to be produced by Marvel Enterprises under a deal announced by the companies today. The first titles to be released under the new pact will be adaptations of Captain America and Nick Fury, which are expected to be ready for release in 2007 or 2008.
Under the deal, Marvel will deliver up to ten films over an eight-year period, with each film budgeted between $45 million and $180 million. Paramount will not contribute to production costs but will provide advance funding for promotion and advertising. Marvel will receive a producer fee for each film and retain all merchandising revenues, while Paramount will receive a distribution fee for each film and its sequels.
To fund the slate, Marvel has obtained a $525 million non-recourse revolving credit facility over seven years from Merrill Lynch Commercial Finance Corp. The facility will be secured by the theatrical and motion picture production and distribution rights for ten Marvel characters.
[Source: Business Wire]