On the heels of the successful film epic “The Chronicles of Narnia: The Lion, the Witch and the Wardrobe” last year, Walden Media is moving into a new phase by starting not only a book publishing arm but exploring a potential joint venture or partnership with studios.
Under the still-developing concept, Walden would become a branded company that would distribute virtually all its film products – all family- friendly – through a particular studio.
Current management, including Denver billionaire owner Philip Anschutz, would remain in control.
“Money is coming to look for us,” confirmed David Weil, chief executive of the film group, an umbrella company over Walden. “We’ve been approached by a large number of potential studio partners and potential investment banks.”
Weil said he and other executives were talking with some studios and having “more serious” discussions with just a couple.
He declined to identify the suitors but said it “simply would be easier” with a single studio partner to handle distribution.
With offices in Los Angeles and Boston, Walden is the brainchild of Cary Granat, a former president of Miramax Films’ Dimension label, and Micheal Flaherty, a Boston educator.
The two spent a year shopping their concept to skeptical venture capitalists before they met Anschutz, who has a knack for turning undervalued assets into moneymakers. The result was Anschutz Film Group, which also owns Bristol Bay Productions, best known for “Ray.”
The umbrella company, reportedly formed in 2004, is privately held and does not release financial results.
“The Chronicles” has earned at least $730 million in domestic and international release and even more in DVD sales.
Walden and partner Walt Disney Co. targeted a general audience but also spent time and money courting church groups and religious organizations. Granat said about 5 percent to 6 percent of the marketing budget was earmarked for Christian groups.
Next month, Walden will release “Hoot,” based on a book by Carl Hiaasen that tells the story of children who prevent developers from building a restaurant on a Florida parcel inhabited by owls.
