June
27
Another Indie Bites the Dust: Tartan Shutters
The indie crisis continues as U.K. distrib Tartan Films is shutting down. UPDATE: This distrib released many of the edgier pics out there, including one of the best films of recent years, The Death of Mr. Lazarescu (below), which few people ever saw.
Here's Variety:
U.K. distrib Tartan Films has finally shuttered. Sources told Variety that Tartan employees found the London office doors closed Thursday June 26 and were then informed later in the day by Tartan topper Hamish McAlpine the company was closed for business.Speculation over the future of Tartan has been rife for several months. The distrib was believed to be in takeover talks with David Bergstein of the Capco Group, the firm that owns ThinkFilm, a stake in I.M. Global as well as the U.K.'s Capitol Film and has itself been plagued by rumors of financial troubles, for much of last year before negotiations broke down following disagreements over Tartan's financial worth.
Last October Tartan announced it had received a cash injection of £3 million ($6.2 million) in the form of a convertible loan from a private investor and also had restructured its Brit operation, with managing director Laura De Casto ankling. The company's theatrical and home entertainment departments, previously run out of separate London offices, were also merged into one entity based at Tartan's head office.
Tartan USA, the company's U.S. arm, announced at this year's Cannes that it was being foreclosed. Film print and advertising financing company Palisades Media Corp. has since bought the U.S. rights to its library.
UPDATE: McAlpine is a hard-driving, colorful figure who once inspired director Larry Clark to deck him one in London in 2002. Here's the LA Weekly. Presumably the Tartan Asia Extreme library was also sold to Palisades. Here's Cinematical.
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