Do you want fries with that movie??
News comes in from THE BEAT on Marvel’s new “entertainment” venture.
MILE HIGH COMICS presents THE BEAT at COMICON.com | 2: Marvel changes name, announces film slate
Marvel changes name, announces film slate
Marvel has announced the films they will be developing under their new, $525 million loan from Merrill Lynch. They also announced that they have changed their name from Marvel Enterprises to Marvel Entertainment, ?reflecting its new business producing and financing pics internally without a studio partner.?
In recognition of its newly expanded film production focus, the company will change its name to Marvel Entertainment Inc. The properties for the 10 films to be announced today are Captain America; Nick Fury; the Avengers; Black Panther; Ant-Man; Cloak & Dagger; Dr. Strange; Hawkeye; Power Pack; and Shang-Chi. Each film is expected to carry a budget of up to $165 million and a rating no more restrictive than PG-13. Summer 2008 will bring the first theatrical release (it is too early to say which one), followed by two releases each year. Paramount Pictures will be the sole distributor and marketing partner for each film.
[Emphasis mine]
Variety adds more production info from Avi:
?We are going to commission a lot of scripts and start the race to see which move quickest through development,? Arad explained. ?We are not significantly veering from what we have been doing with studios, but we now have the luxury of greenlight rights and better financial benefits.?
Pact calls for Marvel Entertainment to fund development. Once a pic is greenlit, the credit facility will pay company back for its development costs. That means coincoin for pics that never make it out of development will come directly out of Marvel’s bottom line.
As previously mentioned, producing their own movies is a huge step for Marvel, as, after years of risk-free licensing deals, they sink their own borrowed money into Hollywood. You’ll recall that the collateral of the loan is the movie rights to the characters involved.
My favorite quote from this post is from Avi Arad: “We are going to commission a lot of scripts and start the race to see which move quickest through development”.
In another interview back in July, this is what was said:
On Thursday, tens of thousands of comic enthusiasts began descending on San Diego for the annual Comic-Con convention, where movie adaptations are among the hottest topics. But with so many cartoon superstars like Batman, Superman, the Hulk and the Fantastic Four already gone Hollywood, who’s left?
“Ha ha!” laughs Marvel Studios chief Avi Arad. “You know we have 5,000 characters?”
Next up for Marvel is “Ghost Rider,” in summer 2006, with Nicolas Cage as a possessed motorcycle rider hellbent on justice.
“For the hardcore group, `Ghost Rider’ is probably the most anticipated one,” Arad says. “I think once the world gets to meet him, it will extend this community.”
You add these news items together, and it looks like Marvel, with their new deal, is going to start pumping out comic book based movies just like McDonalds makes hamburgers, going for the quantity versus quality shotgun approach. They figure if they send out enough movies, that at least ONE of them is going to be a hit. That is just plain sad if you asked me. Since the movies is what saved the company from going under a while back, I guess they have no choice.
I wonder how long before they make a Howard the Duck
I know about the rest of you, but I expect some real “quackers” in the next couple of years. 
Related posts:
- The Movie Blog: Avi Arad Confirms Thor Movie In The Works
- ARAD RESIGNS AS CHAIRMAN/CEO OF MARVEL STUDIOS, WILL STAY ON TO PRODUCE – NEWSARAMA
- IRON MAN FILM GETS OPENING DATE: MAY 2, 2008 – NEWSARAMA
- The Movie Blog: Avengers Movie Being Written by Zak Penn
- The Movie Blog: Next Hulk Movie Not A Sequel
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