Turnaround (filmmaking)

A turnaround or turnaround deal is an arrangement in the film industry, whereby the rights to a project one studio has developed are sold to another studio in exchange for the cost of development.

Most recently, the term turnaround was described succinctly by Michael Cieply in "The New York Times" as a "an industry term for arrangements under which producers can move a project from one studio to another under certain conditions". [cite news |title=Studio War Involving ‘Watchmen’ Heats Up |author=Michael Cieply |date=2008-08-29 |work=The New York Times |url=http://www.nytimes.com/2008/08/30/movies/30watc.html |accessdate=2008-09-01 ] His 2008 article "The Murky Side of Movie Rights" further expands upon this definition, and elaborates upon the arrangements involved in several turnaround deals. [cite news |title=The Murky Side of Movie Rights |author=Michael Cieply |date=2008-08-23 |work=The New York Times |url=http://www.nytimes.com/2008/08/24/business/media/24steal.html |accessdate=2008-09-01 ]

Examples of films put into turnaround include: "E.T." (from Columbia to Universal); "Speed" (Paramount to Fox); and "Forrest Gump" (sold by Warner Bros. to Paramount in exchange for the rights to "Executive Decision" and $600,000 in cash). The turnaround of The Boondock Saints is documented in "Overnight": A 2003 documentary which mainly focuses on the perspective of how director Troy Duffy "fell" in Hollywood.

In certain situations the option to a screenplay may have expired, and instead of renewing at one studio, the option will be renewed at another studio according to the terms of the deal.Fact|date=March 2007

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