Ovitz Makes Film Deal.
The film production arm of Canal Plus, the European pay-TV company that would oversee Universal Studios under parent Vivendi's plan to buy Seagram Co., said it hatched a film production deal with talent manager Michael Ovitz for as many as 15 movies over three years.
The deal raised
Under the deal, Canal Plus' Studio Canal will form a joint venture with Ovitz's Artists Production Group. Canal Plus will finance 60 percent of the budgets, expected to range from $30 million to $80 million per picture. The remaining funding for the films is expected to come from domestic distributors on a project-by-project basis. Canal Plus will get foreign distribution rights to the movies.
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