Option.
An option agreement.
That’s sort of a commitment to buy something when you really don’t want to buy it yet but might so “I will pay you something so I can actually pay you more later”. You BUY the option to BUY. Weird?
Not in Hollywood. For some people here, the sign of a good producer is the following words:
Free Option Screenplay.
I still think it’s a stupid proposition but it’s valid.
On our thriller movie, we’ve had an option to a script for a full year. Said option has expired. So now, for more money, we are looking to renew the option for another year. For double what we paid the first year. Now, this is the catch, the final PURCHASE price (not the OPTION to purchase price, hint) is ten times the price of the option.
That’s how it works and that’s why we option shit.
Whew.
Anyway, our “partners” in this thriller, have suddenly decided they don’t want to put any more money down to renew the option to the script.
Here’s why that’s fucked up:
-We have a A-list director.
-We’re out to an A-list actor.
-We have money invested already into the initial option agreement.
-We have international territories that have pre-bought the movie already.
-We have domestic (USA) distribution tied to the movie already. A SOLID company.
-The American Film Market is coming up.
But as of after this week, WE MIGHT NO LONGER HAVE THE RIGHTS TO THE SCRIPT.
Bring out the Pepto-B people.
You want to hear the clincher? The agent representing the script’s option renewal, is the same agent who represents the director who got fired. Translation of this last part: Top. Of. Shit. List.
Sooooo, that’s what we’re dealing with. Not unlike stuff that happens every day.
Thankfully, our documentary project is also moving. Sort of. We’re waiting for the studio to come back to us after two and a half centuries of waiting.
There.
Oh, and Troy Davis? He should NOT be killed today.
