Paramount Pictures, Lakeshore Entertainment Renew Exclusive Production, Distribution Deal

Business Wire, August 31, 1999

HOLLYWOOD--(ENTERTAINMENT WIRE)--Aug. 31, 1999--

Paramount Pictures and Lakeshore Entertainment Corp. have renewed their exclusive production and distribution deal for an additional three years beginning Jan. 1, 2000.

Paramount Pictures is part of the entertainment operations of Viacom Inc.

Lakeshore, headed by co-chairmen Tom Rosenberg and Ted Tannebaum, will continue to select, finance and produce motion pictures that Paramount Pictures will distribute in all domestic theatrical, video and television markets in the United States and Canada. Lakeshore, which will continue to be based on the Paramount lot, will also remain actively involved in the films' distribution and marketing campaigns.

Jonathan Dolgen, chairman of the Viacom Entertainment Group, said: "I have known Tom and Ted for many years and they are not only great colleagues but also great friends. They are both smart at their business and are terrific producers who have wonderful relationships with talent.

"We've always had a rewarding and collaborative partnership, and I am very happy, both personally and professionally, that our relationship with them and Lakeshore will continue into the future."

Sherry Lansing, chairman of Paramount Pictures' Motion Picture Group, said: "Working with Tom, Ted and their professional team at Lakeshore has been a very rewarding experience. They have become true friends and fantastic partners, and we are thrilled that they will continue to be a part of our family.

"In their producing roles on `Runaway Bride,' Tom and Ted were instrumental in getting this film made and were an integral part of its tremendous success. We all look forward to our next wonderful project together, `The Next Best Thing'."

Rosenberg said: "We've had a great experience working with Jonathan Dolgen, Sherry Lansing, Bill Bernstein, John Goldwyn and their unsurpassed production and marketing teams. Ted and I have always regarded Paramount as a place where the talents and ideas of film makers are fully explored and appreciated, and we are looking forward to making and distributing films together in the years to come."

Lakeshore's most recent collaboration with Paramount was on the hit film "Runaway Bride," starring Julia Roberts and Richard Gere and directed by Garry Marshall. "Runaway Bride" grossed more than $35 million in its opening weekend, making it the biggest opening for Roberts and the largest opening for a romantic comedy ever.

Upcoming from Paramount and Lakeshore is "The Next Best Thing," starring Madonna and Rupert Everett and directed by Academy Award(tm)- winner John Schlesinger.

Other films produced under the Paramount/Lakeshore agreement include "200 Cigarettes," "Kids in the Hall: Brain Candy," "Til There Was You" and "The Real Blonde." Some of Lakeshore's other projects include "Arlington Road," "Box of Moonlight," "Going All the Way," "Polish Wedding," "Homegrown" and "Phoenix."

Before founding Lakeshore, Rosenberg was co-founder and chairman of Beacon Communications, where he produced such films as "The Commitments," "Sugar Hill," "A Midnight Clear," "Princess Caraboo" and "The Road to Wellville."

Tannebaum is co-chairman of Lakeshore Entertainment, where he has served as executive producer of the company's films. Tannebaum is a veteran of law, investment and finance who, before forming Lakeshore with Rosenberg, was a leader in the health-care industry.