Roy Lee and Doug Davison's Vertigo Entertainment has inked a multiyear first-look deal with Universal Pictures and its specialty films unit, Focus Features.
LOS ANGELES (The Hollywood Reporter) -- Roy Lee and Doug Davison's Vertigo Entertainment has inked a multiyear first-look deal with Universal Pictures and its specialty films unit, Focus Features.
The deal covers feature film development and production and is divided along budgetary lines. Universal gets first look at the movies budgeted at more than $20 million, while Focus gets to mine the less-expensive ones.
Vertigo also retains the option to co-finance certain films based on predetermined parameters with Focus.
For those films co-produced by Universal and Vertigo, a separate agreement with the international distribution arm of Focus Features comes into play, with Focus acting as the foreign sales agent on behalf of Vertigo's interests.
"We welcome this new relationship with Vertigo Entertainment, whose slate includes a variety of compelling films," said Mary Parent and Scott Stuber, vice chairmen of Universal Pictures worldwide production. "The structure of the deal with Vertigo and Focus is reflective of the international distribution scene, which continues to expand and diversify. This will give us added flexibility in the marketplace and allow us to further develop our presence both domestically and abroad."
Vertigo was formed in 2001 by Lee and Davison. The following year, DreamWorks distributed their debut film, "The Ring," which went on to gross more than $249 million worldwide. Shooting just wrapped on its sequel.
Vertigo has two projects already set up at Universal: "Chaos," a thriller co-produced by Robert De Niro's Tribeca Prods., and "Old Boy," a psychological thriller. Both are remakes of Asian films, a Vertigo specialty.