Digital media company Vice is getting into feature films, launching a movie-making joint venture with Hollywood studio 20th Century Fox.
Vice Films is looking to work with emerging directors and to make at least two movies a year, at a budget of about $2m. It will also have a first look deal with Fox to develop productions in the $10m to $20m range.
Fox, part of Rupert Murdoch’s 21st Century Fox, will provide film development, production and theatrical distribution, while Vice Media will lead the creative development and be responsible for digital distribution. Last year 21st Century Fox bought a 5% share in Vice for $70m.
As part of the deal Fox will also have an opportunity to develop material based on Vice’s library of content for potential feature films.
Vice Media has already released productions including Sundance winner Fishing Without Nets, skateboard documentary All This Mayhem, and the Iranian vampire film A Girl Walks Home Alone At Night. It also has a documentary series on HBO.
The company has attracted a lot of attention from traditional media companies in the past couple of years for its perceived ability to connect with a teen and 20-something audience via its YouTube videos and youth culture blogs, although its journalistic methods and business model have attracted scrutiny and some criticism.
“Vice Films is the beginning of an exciting new chapter for Vice,” said chief creative officer, Eddy Moretti. “The success [of Vice film content to date] showed us that we can play a vital role supporting exciting, bold and visionary film-making. At the heart of this partnership is our love of cinema. Vice is committed to the enduring artistic and cultural relevance of the two-hour narrative.”
Jim Gianopulos, 20th Century Fox chairman and chief executive, said: “Vice is a bold, groundbreaking new media company that allows us to reach an audience that is focused online and consumes its news and entertainment across many media platforms. Vice not only knows how to reach that audience but markets to them better than anyone else out there.”
Moretti will serve as the head of Vice Films while Danny Gabai, Vice’s executive creative director, will head up development and oversee creative on production and marketing.
Sanford Panitch, the president of Fox International Productions, and Salil Mehta, president of content management, will oversee Vice Films for 20th Century Fox.
In September Vice sold 10% stakes for $250m each to A&E Networks, which is owned by Hearst and Disney, and Technology Crossover Ventures. Other minority shareholders include WPP.
In August Time Warner ended talks to buy a major stake in Vice Media.
