Warner Bros. Teams Up with PolyGram to Co-Finance & Co-Distribute Castle Rock Pictures

Warner Bros. and PolyGram Filmed Entertainment (PFE) have entered into a agreement to jointly finance and distribute theatrical motion pictures produced by Castle Rock over the next 3 years, effective January 1, 1998, it was announced today by Robert A. Daly & Terry Semel, Chairmen & Co-Chief Executive Officers, Warner Bros.; Alan Horn, Chairman and Chief Executive Officer, Castle Rock Entertainment, and Michael Kuhn, President and Chief Executive Officer, PolyGram Filmed Entertainment.

Castle Rock plans to make 5 films per year, with distribution shared by Warner Bros. and PolyGram on a picture-by-picture basis.

The first films to fall under this new deal include Whit Stillman's "The Last Days of Disco," starring Chloe Sevigny, Kate Beckinsale, Chris Eigeman, Robert Sean Leonard and Mackenzie Astin; "Mickey Blue Eyes," starring Hugh Grant and James Caan, and produced by Elizabeth Hurley and Chuck Mulvehill; and "The Green Mile," starring Tom Hanks, from Frank Darabont's ("Shawshank Redemption") screenplay adapted from Stephen King's six-part series of novels.

For "The Last Days of Disco," PolyGram will handle the distribution in the United States and Canada, and Warner Bros. will distribute internationally. For "Mickey Blue Eyes" and "The Green Mile," Warner Bros. will distribute in the U.S. & Canada, and PolyGram will distribute internationally.

"This is a great opportunity for all of us," said Daly & Semel. "We are especially pleased to be sharing the Castle Rock product with PolyGram, and look forward to adding their new movies to our upcoming release schedule."

"As long time admirers of Warner Bros. and Castle Rock, we too, are delighted to join forces with them to produce exciting films," said Kuhn.

"Castle Rock couldn't be happier," said Horn. "This deal allows us to continue to produce the kinds of quality films we are known for, while having the full support and backing of two worldwide entertainment giants."

The 10-year-old feature film and television company, whose hits include "The Shawshank Redemption," "In the Line of Fire," "A Few Good Men," "When Harry Met Sally," "City Slickers" and the megahit television series "Seinfeld," was founded by partners Rob Reiner, Martin Shafer, Glenn Padnick, Andrew Scheinman and Horn.

Coincidentally, in a recent deal, PolyGram acquired the distribution rights to numerous Castle Rock library titles, including "When Harry Met Sally" and "Misery."

PolyGram Filmed Entertainment (PFE) is a division of global entertainment group PolyGram. PFE embraces Hollywood-based production companies Interscope Communications and Propaganda Films, UK-based Working Title Films, and local language film producers in France and the Netherlands. PFE also has production pacts with Jodie Foster's Egg Pictures, Tim Robbins' Havoc Inc., David Fincher, Alan Parker's Dirty Hands Productions, Jane Campion, Robert Jones' Jonescompany, Tony and Ridley Scott's Scott Free Productions, Phillip Noyce, Def Pictures and Revolution Films. PFE has film distribution operations in 13 countries including the US (PolyGram Films, Gramercy Pictures) and the UK.

Warner Bros., a Time Warner Entertainment Company, is a world leader in the creation, production, distribution and marketing of all forms of entertainment and their attendant businesses from theatrical motion pictures to television, home video, animation, product licensing, retail stores, theaters and theme parks.

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