I know this is a very broad question based on a ton of factors, but in general how often do screenplays in turnaround get picked up again? In my case, I'm talking a lower budget (million to two) faith-based drama that I sold to a company seven years ago -- and it's now time for me to exercise the reversion rights clause. The reason it's going into turnaround is very simple: the company, which was self-financed, initially thought it had a distribution deal -- but it fell apart and they couldn't find another distributor.
Along the same lines, are companies discouraged by the fees they'll have to pay on a turnaround project? I do realize that it depends on the amount involved relative to the budget, but I'm wondering if producers in general prefer to deal with a virgin property rather than one that's in turnaround. I have had a lot of experience with sales and options (and do have an excellent entertainment attorney), so I understand the legal process. I'm just curious about the success rate of screenplays that go into turnaround. Do any of you have experience with turnaround projects -- or do you know of any good examples? Thanks in advance.
Along the same lines, are companies discouraged by the fees they'll have to pay on a turnaround project? I do realize that it depends on the amount involved relative to the budget, but I'm wondering if producers in general prefer to deal with a virgin property rather than one that's in turnaround. I have had a lot of experience with sales and options (and do have an excellent entertainment attorney), so I understand the legal process. I'm just curious about the success rate of screenplays that go into turnaround. Do any of you have experience with turnaround projects -- or do you know of any good examples? Thanks in advance.
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