Summit and Participant media announced Tuesday that they have acquired film rights to a New York Times article about the final hours of the ill-fated Deepwater Horizon oil rig.
The two studios have partnered with Imagenation Abu Dhabi to buy the film rights to the story, which was titled "Deepwatner Horizons's Final Hour" and published last Christmas Day.
Times writers David Barstow, David Rohde and Stephanie Saul co-bylined the aritcle, which will be adapted by Matthew Sand.
According to the announcement, Summit is in negotiations with producer Lorenzo Di Bonaventrua to oversee the project.
Here's the full announcement. More to come…
SUMMIT AND PARTICIPANT IN ASSOCIATION WITH IMAGENATION
ACQUIRE FEATURE FILM RIGHTS TO THE NEW YORK TIMES ARTICLE
“DEEPWATER HORIZON’S FINAL HOUR”
Film Provides Insight in to the Heroes of the Deepwater Horizon Oil Rig Tragedy
in the Gulf of Mexico on April 20, 2010
LOS ANGELES, CA March 8, 2011 – Summit Entertainment and Participant Media, in association with Imagenation Abu Dhabi have acquired the feature film rights to The New York Times article titled “Deepwater Horizon’s Final Hour” published December 25, 2010 written by David Barstow, David Rohde, and Stephanie Saul. A planned filmed adaptation of the article will depict the courage of those who worked on the oil rig and the final minutes leading up to the disaster that ultimately led to great devastation that will forever be remembered.
The film will be written by Matthew Sand. It will be developed by Summit Entertainment and Participant Media in association with Imagenation Abu Dhabi, and it is expected to be co-financed by Summit and Participant Media/Imagenation Abu Dhabi. Summit is negotiating with Lorenzo Di Bonaventura (RED, SALT, TRANSFORMERS) to produce the project via his Di Bonaventura Pictures banner.
Summit’s President of Production, Erik Feig, stated, “This film will portray the great heroism that took place last year on the Deepwater Horizon rig and how colleagues so courageously came to each other’s aide. This piece in The New York Times evoked the raw emotion these brave men experienced and endured throughout the tragedy that took place in April of last year and we hope to evoke the same emotions for our audience with this movie.”
Ricky Strauss, President of Participant Media, added, “This is a perfect fit for us–a suspenseful and inspiring real-life account of everyday people whose values are tested in the face of an impending environmental disaster.”
Michael Garin, CEO Imagenation Abu Dhabi, said, “Our partnership with Participant Media, and by extension Summit, continues to generate movies which raise awareness of issues and inspire social change. This powerful account truly represents the ideal aims of storytelling, where the search for the truth uncovers everyday heroism in the face of adversity, and so is destined to be an important film appealing to international audiences all over the world.”
Sand has written the screenplays for several upcoming projects including AMERICAN BY BLOOD, THE SUMMONER, THE RED STAR and BROTHERS IN ARMS.
Feig along with Summit Entertainment’s Senior Vice President of Production, Geoff Shaevitz, are overseeing the project for the studio. Strauss and Participant’s Executive Vice President of Production, Jonathan King, are overseeing for Participant.
ICM represents The New York Times and packaged the project. Sand is represented by ICM, Circle of Confusion, and Gang, Tyre, Ramer and Brown.