Chapter 153: Chapter 153: Good Things Come in Threes
In August 2005, Hasbro and Capet Pictures announced they would jointly develop a live-action movie for Transformers.
Charles Capet finally acquired the movie adaptation rights for Transformers from Hasbro, securing a powerful IP for Capet Pictures and capturing a future cash cow that Paramount had overlooked.
As the least skilled studio in Hollywood at developing movie franchises, Paramount failed to maintain control over the Mission: Impossible series starring Tom Cruise.
The end of the summer box office season brought mixed emotions for various studios. Despite not having any self-distributed films playing, Capet Pictures' production prowess was undeniable, given the success of Mr. & Mrs. Smith and Wedding Crashers.
For the rest of the year, Capet Pictures would distribute its own movies. Matrix Pictures was set to release Hostel and Saw III in September and October, respectively. Capet Pictures was to release Little Miss Sunshine, Walk the Line, and No Country for Old Men.
Little Miss Sunshine, a heartwarming road movie without major plot twists, featuring a modest cast, was set to open in just 37 theaters in August.
However, when Charles returned to Los Angeles with the contract for the Transformers rights, Donna Langley accepted his invitation to join Capet Pictures by the end of the year after stepping down from Universal.
Planning for the live-action Transformers began immediately, involving many special effects shots. Producer Don Murphy and others started script adaptation and other preparations.
"J.J. Abrams is really interested in directing the live-action Transformers. But he's currently in Italy directing Mission: Impossible III," Phyllis Jones reported in Charles' office.
Meanwhile, Dona Williams reported that Red Bus Pictures in the UK was willing to sell for $23.5 million.
"First, securing the Transformers adaptation rights, then Donna Langley's commitment, and now acquiring Red Bus Pictures - good things come in threes," Charles smiled unconsciously.
"Transfer the money. We'll then restructure it as Capet International Pictures UK Branch, which may eventually become our European headquarters for international business," Charles said without hesitation, envisioning future participation in British film production and distribution.
Dona Williams nodded. To Capet Entertainment, $23.5 million in cash was a small sum. She promptly left the office to handle the task.
"The Transformers release is set for December 2007. J.J. Abrams joining next year is completely feasible," Charles expressed concern about missing the 2007 summer release window.
Phyllis Jones was astonished, "In the summer of 2007, we are releasing Iron Man. Releasing Transformers during the holiday season means two big special-effects movies in a year!"
Charles sighed inwardly. Was two big movies in a year really so overwhelming?
In contrast to the festive mood at Capet Entertainment, the atmosphere at DreamWorks was dour. Despite a $126 million production cost, The Island grossed only $30 million in North America after 20 days.
David Geffen and Steven Spielberg felt an increased urgency to sell DreamWorks, with The Island alone causing an $80 million deficit.
"Negotiations with NBC Universal are moving slowly!"
Spielberg had hoped to secure the rights to the Transformers series from Hasbro but was thwarted by Capet Pictures' swift acquisition.
Maintaining good relations with Universal Pictures, Spielberg naturally preferred DreamWorks to become part of Universal, easing future collaborations.
"Does the GE board need to discuss?" David Geffen had anticipated Universal Pictures chairman Ronald Meyer's support.
Spielberg nodded. The price sought by DreamWorks made GE, NBC Universal's parent company, hesitate.
It was evident that GE imagined his retirement, anticipating selling DreamWorks. The Island compounded their woes. DreamWorks was also a shareholder in DreamWorks Animation, where falling share prices reflected poor box office performance.
Besides The Ring Two, their live-action movies hadn't fared well; The Island simply added insult to injury.
Standing up and exuding a serious demeanor, Spielberg declared, "We have nearly 60 live-action films, including Oscar winners, along with our current project inventory, and our asking price is fair!"
Unspoken was Spielberg's significant value to DreamWorks' live-action division himself.
Spielberg's management contrasted with DreamWorks Animation, marking distinct entities.
"Let's wait. Ronald is working hard to persuade the GE board. Who would miss a Spielberg-directed film?" David Geffen, as a DreamWorks stakeholder, aimed for higher sale proceeds.
"Let's hope so!" After half a year, GE's indecision was wearing on Spielberg's confidence.
*****
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