Two deals confirm Sogepaq's growing reputation as the guardian angel of Spanish filmmakers
San Sebastián Confirming its status as one of the leading sources of finance for the Spanish film industry, giant indie distributor Sogepaq has inked a four-film co-financing deal with burgeoning Spanish producer, Tornasol Films' Gerardo Herrero.
In a separate agreement, Sogepaq will create a specialist art and niche film distribution company, to be managed by Wanda Films CEO, José María Morales.
Both deals confirm the rising media concentration in Spain.
The four films included in the Sogepaq-Tornasol accord are the Bosnian-set wartime drama, US$3.2 million Territorio Comanche (Comanche Territory), directed by Herrero and to roll immediately; Rafa Monleón's Una cuestión de suerte, now shooting; the Channel 4 terrorist drama, A Further Gesture, starring Stephen Rea; and Jean Charles Tacchella's upcoming Histoire dún rencontre. The deal looks likely to set the precedent for further co-financing links between Sogepaq and Tornasol.
As RTVE reconsiders its financing of the Spanish film industry, Sogepaq is to a certain extent stepping into this role. It is eyeballing acquiring a further two to three films for this year, bringing its involvement in the Spanish film industry up to a total of eight to nine independent pick-ups and some 12 more sourced from Sogetela at a combined budgetary value of around pta1billion (US$7.9 million). At least one of these new films is likely to be helmed by a first-time director.
Sogepaq will also provide 100% funding for the as-yet-unnamed new specialist distributor to be managed by Morales. According to Sogepaq president, José Vicuña, Morales will still maintain his production activities at Wanda Films. These have seen him putting up Spanish co-finance for Arturo Ripstein's highly successful Profundo Carmesí (Deep Crimson). The new distribution company is likely to handle some eight to 12 films a year and will handle bookings, marketing and P&A completely separately from Sogepaq Distribución, the main theatrical distribution arm of Sogepaq.
The Tornasol-Wanda couplings come as Ana Amigo, longtime director of acquisitions for Sogepaq moves 4 November to PRISA film production arm Sogetel to oversee co-productions and projects with Latin America and the Spanish-speaking US. She will be replaced by María Angulo. John Hopewell
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