'titanic' Int'l Tv Launch Aborted

A massive international television sales launch for "Titanic," which was set to kick off at MIP-TV on Friday, will remain dry-docked until the film's global boxoffice momentum levels off.

"To step in now and sell it while it is still earning enormous amounts of money in theatrical seems unnecessary and could possibly lead to underestimating its ultimate value," 20th Century Fox International Television executive vp Marion Edwards said Monday.

While not commenting on Fox's sale of domestic TV rights to NBC for $30 million -- which Fox's partner on the movie, Paramount, believes is a gross undervaluation -- Edwards said, "It would be fair to say I am very well aware of this situation."

Edwards, whose division was not involved in the NBC deal, added: "It (the deal) can't help being at the back of my mind as we prepare to take 'Titanic' to the international TV market. It is a constant source of conversation, and I would not want to do anything that could jeopardize the true value of 'Titanic' in the international television market."

Extra international boxoffice momentum provided by the film's 11 Oscar wins last week was a big factor prompting Edwards and Twentieth Television International president Mark Kaner to hold off signing business for the biggest blockbuster in cinematic history at MIP-TV, she said.

"People would like to tie it down now, but we don't think this would serve our best interests," Edwards said.

Edwards added that "Titanic's" ultimate international boxoffice total would clearly affect international television sales revenue. "That is at the core of why we are making this decision now," she said. "There would be a big difference in the international TV revenue if 'Titanic' did, say, $1.5 billion instead of $1 billion. Nobody has a gun to my head to go out now, and I think it would be potentially risky to do so."

When boxoffice numbers begin to level out, Edwards and her team plan to go to "each of our international marketplaces and determine how to handle it for that particular market. Some markets may be suffering financial reverses (Asian TV markets are in flux due to the region's economic crisis), and we may decide to hold off in those markets. Will we do some grand announcement and shoot off the starting gun (for international TV sales)? It's unlikely at this point but not impossible."

Edwards added, however, that her door will be open to preliminary conversations in Cannes. "It will be unavoidable but to have conversations at MIP-TV with people," she said. "And everybody is speculating about it, about who will get it and what the ad time will ultimately be worth. It's just a huge event all around.

"You don't want to make any mistakes when you are given the opportunity to handle a film that I guess is not radically different than 'Gone With the Wind' in terms of its impact."