Twenty-first Century Film Corp. has agreed with Pathe Communications Corp. to terminate their earlier film production contract, it was announced today.
Under terms of the agreement, 21st Century Film will receive all of Pathe's rights to two feature-length motion pictures: the already completed "Mack the Knife," and "Phantom of the Opera," which is in production.
Twenty-first Century Film will also receive all of Pathe's rights to a number of projects and scripts in various stages of production.
For its part, Pathe will be relieved of all financial obligations to 21st Century Film under the original film production contract. The pact is subject to approval by the board of directors of both companies.