With Apple Megadeal, Skydance’s David Ellison Scores One of the Richest Pacts in Hollywood
variety.comDavid Ellison’s Skydance Media prove the tech giant is willing to spend big to build a global tentpole movie business, sources tell Variety.Nearly a month after it was announced that Apple had landed a slate of live action films from longtime Paramount Pictures partner Skydance, producer of the mega-franchise “Mission: Impossible” and the upcoming sequel to “Top Gun,” the town is still abuzz about what a lucrative and rarified deal Skydance carved out for itself.The agreement closely resembles a “put deal,’ according to sources, an increasingly rare Hollywood arrangement wherein a distributor is obligated to release movies its partner chooses (Jason Blum’s Blumhouse, Jordan Peele’s Monkeypaw and Arnon Milchan’s New Regency are a few of the players that have commanded similar pacts).
Though not unprecedented, industry observers say the deal between Skydance and Apple is among the richest received by any production company.
Under the terms of the pact, Skydance is guaranteed at least two fully-financed feature films per year with budgets up to roughly $125 million, numerous insiders close to the situation said.
Skydance is also guaranteed a payout of up to $25 million per picture, depending on budget threshold. That money compensates Skydance for the backend profits it theoretically would have reaped if the film were a conventional box office success.
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