By Sahil Patel
Focusing on the millennial set, Vice Films will develop, produce, finance, market, acquire, and distribute films “from groundbreaking directors around the world, drawn from the talent pool and content that Vice has pioneered,” the companies said.
Fox will lend its expertise in film development, production, and distribution, while Vice will lead on creative development, and will leverage its global marketing and digital channels to bring audiences to the projects.
Initially, Vice Film plans to produce two films every year, with an openness to both theatrical and digital distribution.
As part of the joint venture, Vice also has a first-look production agreement with Fox, giving the youth media brand a chance to develop larger-budget films in addition to anything financed by Vice Films. In exchange, Fox has the rights to develop feature films based on Vice’s library of original content.
The joint venture was put together by 20th Century Fox chairman and CEO Jim Gianopulos and Vice CEO Shane Smith and chief creative officer Eddy Moretti. Moretti will serve as the head of Vice Films, with Vice executive creative director Danny Gabai leading development and overseeing creative on production and marketing. Sanford Panitch, president of Fox International Productions, and Salil Mehta, president of content management, will oversee Vice Films on behalf of Fox.
Rupert Murdoch, who owns 20th Century Fox, holds a minority stake in Vice Media.