'Blind Side' producer Alcon extends deal with Warner Bros.
Film financier and producer Alcon Entertainment -- best known for the suprise hit "The Blind Side" -- has extended its long-running partnership with Warner Bros. until 2015. The new deal also gives Alcon the option to make some movies for other studios for the first time.
Under the agreement, Alcon, which fully finances the production and marketing of its pictures, will continue making up to three movies a year to be distributed by Warner.
However, the deal also allows Alcon, founded in 1997 with the financial backing of FedEx Chief Executive Frederick W. Smith, to make modestly budgeted pictures that could be released by other studios if Warner passes on them. In the past, Alcon's agreement with the Time Warner-owned studio prevented it from working with other studios.
Warner Bros. is cutting down on the number of movies it produces, making its relationship with independent financiers such as Alcon more important in order to justify the cost of its worldwide distribution operation.
Alcon's financial resources got a boost in late 2009 with the very profitable "Blind Side." Last weekend, Warner released Alcon's romantic comedy "Something Borrowed," which opened to a soft $13.9 million. Its next release will be the 3-D family film "Dolphin Tale," starring Morgan Freeman, in September.
The company's other productions have included the comedies "Lottery Ticket" and "Sisterhood of the Traveling Pants" and action films "The Book of Eli" and "16 Blocks."
Alcon continues to be led by its co-founders and chief executives Andrew Kosove and Broderick Johnson.
-- Ben Fritz
Top photo: Andrew Kosove. Bottom photo: Broderick Johnson. Credit: Alcon Entertainment.