New Line Helps Producer Start Indie Firm

Independent film producer Cary Woods, whose films include “Scream,” “Kids” and “Swingers,” has raised $30 million to start a new company, $10 million of which will come from New Line Cinema under a long-term deal Woods has with the movie distributor.

Woods is naming his New York-based producer and distributor Independent Pictures. Woods’ deal with New Line, a unit of Time Warner Inc., is a 20-picture, five-year agreement for New Line to distribute a minimum of four movies a year for Woods, who retains all foreign rights.

Woods declined to name his other investors, except to say the lead one is a major venture capital firm. He said he plans to produce and acquire films with budgets of up to $15 million.

Woods said he decided to form a company after putting together “Kids,” controversial because of its violence and sexual themes involving teenagers. Woods said the name of his company was inspired by a T-shirt worn by a character in the film that read “Independent Trucking.”

A former William Morris agent, Woods produced such studio films as “Rudy” and “So I Married an Ax Murderer” for Sony Pictures Entertainment with former partner Robert Fried.

Woods also has a producer credit on Sony’s current release “Godzilla,” because he and Fried originally had the project. He later produced “Scream” and “Copland” for Walt Disney Co.’s Miramax unit.

The investment by New Line, which was acquired by Time Warner when it bought Turner Broadcasting Systems, is unusual for the company. New Line President Michael Lynne said the only similar deal the studio has had in recent years involved an investment in TV movie producer RHI Entertainment, which was acquired in 1994 by Hallmark Cards Inc.

Lynne said he expects that most of the Woods films will be distributed by New Line’s Fine Line Pictures.