False alarm: still SOME deals at Cannes
Cannes is ending with mixed results. Early market activity indicated how the French festival also wasn’t able to pull the market out of the slump. And now it seems like a classic case of bulls vs. bears. On the one side Variety is reporting ‘Cannes reels in deals,’ but on the other side there’s another piece saying ‘Cannes market signs caution tune.’ Conclusion: some deals, but the dead market isn’t showing much signs of life.
“Some big deals are going down today. But overall, feedback from the market is that it’s somewhat sober,” Cannes director Jerome Paillard said. As at the other festivals this year, everybody is still cautious. Nobody wants to buy another ‘Speed Racer.’ “Too much financing created an insane number of films and more for people to buy, but (ultimately) they pick and choose the movies they want to buy,” ICM exec Hal Sadoff said.
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