Posted by Charles on July 19, 1999 at 18:05:57:
In Reply to: Re: Changing Times posted by Kevin on July 19, 1999 at 10:35:05:
You're right. You've got to watch them like a hawk with bifocles, which is one of the reasons they were uncomfortable with the deal.
The studio is prominent and has built its reputation by producing the finest in quality. They won an Oscar for special effects a few years ago and have a staff of 300 people, so they have what it takes to protect themselves legally. The problem they were having was that this attorney turned producer wasn't giving them much to work with as far as the numbers go. To deliver a series at a per episode cost of what he was proposing would have created problems for the studio, which is why they are inclined to pass it up. They won't be able to produce the quality they've become famous for and they'd eventually have to pay out of their own pockets. Since this producer guy wasn't offering equity participation to make up for the shortfall, the deal isn't too appealing. Besides, he approached them in the way these guys usually do - big talking, loud mouth bragger. It put them on alert.
Typically, a lawyer or accountant "producer" takes about 50% of a production budget for themselves. I'm sure this fellow had the funds to cover a greater part of the production costs. He probably wants to pocket as much as he can from the top. Of course, I could be wrong but in my experiences that's what I've found to be the case in most instances.
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