European ‘Dream Team’ Company Formed

In a surprise move reflecting its success in producing and distributing European-made films, Miramax has turned over most of its U.K. operations to a “European dream team,” a new company jointly headed by David Aukin, head of film at Channel 4 television, and responsible for such hits as “Trainspotting,” “Four Weddings and a Funeral” and “Secrets and Lies.”

The new U.K. company, still unnamed, will develop, produce, co-produce, finance and acquire feature films. Under the long-term partnership deal, Miramax will provide revolving production funds of $50 million, a substantial sum for British films. Aukin will run the new company with Colin Leventhal, managing director of Channel Four International and chairman of Film Four Distributors, and Trea Hoving, who for eight years until this summer acquired international films for Miramax, and has been largely London-based. The company has the power to approve projects and the right of final cut.

“It’s an exceptional opportunity and a unique deal,” Aukin told The Times Monday. “I think it’s the first time a U.S. company has made a significant investment in British film production and left the control of that money in the hands of a British management team.

“Everyone knows that usually the real decisions are made in New York or Los Angeles. But if [filmmakers] come to us the deal will be made here in London.”

The formation of the new company sets the seal on a good year for British film. In May the government announced an award totaling $150 million in lottery money to fund three film consortia over the next six years. Production is on the increase here; two British movies, “The Full Monty” and “Bean,” are currently enjoying international success, and others like “A Life Less Ordinary” and “Mrs. Brown” are in wide release here.

“The essence of the deal is to make good films irrespective of budget,” Aukin said. “The U.S. market is key for us, and we have a partner [Hoving] who understands that. Trea has been a terrific champion of [Channel 4] films. She has a real feel for the American market yet loves British film.”

In his time at Channel 4, Aukin often insisted that what the British industry needed was not necessarily more films, but better films. He noted Monday he would be retaining that philosophy: “We’ll be in the business of quality rather than volume,” he added.

Miramax co-chairman Harvey Weinstein used the phrase “European dream team” to characterize the new company. “Miramax has always had a strong presence in the U.K., and David, Colin and Trea are the perfect force to lead us into the 21st century. Not only will they be a very formidable production and acquisitions entity, they will expand our interests in the U.K. into many new and exciting areas.”

Aukin and Leventhal resigned from their posts at Channel 4 only last Friday, and Aukin, head of film for the last seven years, said he was offered an improved deal to stay. During his tenure he helped make Channel 4 a significant investor in British films that made an impact at the box office, among them “Four Weddings and a Funeral,” “The Madness of King George” and “The Crying Game” (which was distributed successfully in the U.S. by Miramax after bombing in Britain).

Aukin also encouraged the filmmaking team of producer Andrew MacDonald and director Danny Boyle, whose first two films, “Shallow Grave” and “Trainspotting,” were financed by Channel 4.

All Miramax’s existing U.K. businesses (except its sales arm, Miramax International) will be incorporated into the new company’s operations, which will start in the new year.