Chernin Leisure has signed a first-look deal for characteristic movies with Netflix.
The businesses confirmed the deal on Tuesday. Chernin’s earlier first-look deal had been by means of 20th Century Fox, however that settlement went away earlier this 12 months after Disney absorbed the Fox characteristic movie operations final 12 months.
Selection reported solely in January that Chernin Leisure would retain 70 of the 80-plus film initiatives that it had in growth at 20th. The initiatives remaining at Disney — like a brand new “Planet of the Apes” movie with director Wes Ball (“The Maze Runner”) — are based mostly on Disney-held mental property, and Chernin will stay hooked up as an govt producer.
After Chernin stepped down because the president of Fox’s then-parent firm Information Corp. in 2009, he launched Chernin Leisure as a movie manufacturing firm with 2011’s “Rise of the Planet of the Apes.” He additionally produced a number of different high-profile ,films for Fox within the earlier decade, together with “Hidden Figures,” “The Best Showman” and up to date finest image nominee “Ford v Ferrari.” All instructed, Chernin made 24 films over eight years, nearly all of them at Fox.
Disney’s $71.three billion acquisition of 21st Century Fox modified the panorama for movie manufacturing at 20th, particularly after the division’s movie slate in 2019 dramatically underperformed, posting a $170 million loss in Disney’s fiscal third quarter. That prompted Disney to cancel nearly all of then-Fox’s movie growth slate and refocus manufacturing on established franchises.
Chernin Leisure’s most up-to-date movies included the Kristen Stewart thriller “Underwater,” debuted with a limp $7 million home opening weekend, and the animated comedy “Spies in Disguise” grossed round $120 million worldwide.