Open Road Films
| Company type | Private |
|---|---|
| Industry | Film production and distribution |
| Predecessor | Global Road Entertainment |
| Founded | March 26, 2011 in Los Angeles, California, U.S. |
| Founder | Tom Ortenberg |
| Fate | Filed for Chapter 11 bankruptcy (2018); acquired by Raven Capital Management (2019) |
| Successor | Global Road Entertainment (2017–2018) |
| Headquarters | Los Angeles , United States |
Area served | United States |
Key people | Tom Ortenberg (founder), Rob Friedman (former chairman and CEO), James Masciello (current leadership) |
| Products | Motion pictures |
| Owner | Raven Capital Management (since 2019) |
| Website | openroadfilms |
Open Road Films, LLC—originally known as Global Road Entertainment—was a U.S.-based independent company specializing in film production and distribution, with its main office located in Los Angeles, California. Established on March 26, 2011, by Tom Ortenberg, the company initially operated as a collaborative venture between leading cinema chains AMC Theatres and Regal Entertainment Group, who shared ownership until Tang Media Partners, under the leadership of Donald Tang, acquired it in August 2017.
After the acquisition by Tang Media Partners, Open Road combined forces with IM Global, resulting in the creation of "Global Road Entertainment". In September 2018, Open Road filed for Chapter 11 bankruptcy protection; however, this filing did not affect TMP, IM Global, or IM Global TV. Subsequently, on November 6, 2018, Raven Capital Management reached an agreement to acquire Open Road, finalizing the purchase by February 2019.
Open Road Films (initial phase)
In March 2011, competing theater chains AMC Entertainment and Regal Entertainment Group appointed Tom Ortenberg, previously associated with Lionsgate Films and The Weinstein Company, as CEO of Open Road Films. Ortenberg then assembled a senior management team featuring Jason Cassidy as president of marketing, Elliott Kleinberg serving as General Counsel and EVP, Steven Andriuzzo acting as CFO, and Ben Cotner holding the position of SVP acquisitions.
By June 2011, Open Road secured a home entertainment distribution agreement with Universal Pictures Home Entertainment (UPHE). Shortly after its inception, the company also entered into a pay-TV arrangement with Netflix, which lasted until 2016; Netflix resumed streaming Open Road’s films in 2020 following the conclusion of Showtime’s licensing period.
The debut film released by Open Road was Killer Elite (2011), featuring performances by Jason Statham and Robert De Niro. A significant milestone for the company came with its 2015 release Spotlight, which earned Academy Awards for Best Picture and Best Original Screenplay—marking Open Road’s initial Oscar triumphs. Despite widespread acclaim, Spotlight generated debate concerning its depiction of certain individuals and institutional reactions.
In October 2013, Open Road secured a pay-TV contract with Showtime, effective from 2017 through 2020, while simultaneously renewing its home entertainment distribution deal with UPHE through to 2017.
On October 30, 2014, Open Road forged an international collaboration with FilmNation Entertainment, granting it the ability to acquire global rights while FilmNation managed international sales and distribution efforts.
Global Road Entertainment
Following Tom Ortenberg's exit from Open Road Films, Tang Media Partners took ownership of the company in August 2017. Rob Friedman was appointed chairman and CEO of TMP Entertainment under Tang Media Partners to manage Open Road, IM Global, and IM Global TV. On October 30, 2017, Open Road Films combined with IM Global to establish Global Road Entertainment, with Friedman assuming the roles of chairman and CEO.
Global Road set a goal to produce around 15 films annually by the year 2020. At the 2018 European Film Market, the firm announced plans to invest $1 billion in film and television projects over a three-year span, focusing on productions with budgets ranging from $20 million to $100 million. In 2018, the company collaborated with Blumhouse Productions to jointly develop and finance low-budget genre films in the Chinese language.
The 2018 distribution lineup featured titles such as Midnight Sun, Show Dogs, The Silence, Hotel Artemis, A.X.L., and Playmobil: Uncharted. Upcoming projects included Serenity, starring Anne Hathaway and Matthew McConaughey; Richard Says Goodbye featuring Johnny Depp; the sci-fi romance Zoe with Ewan McGregor; and the film Mortal. The movie I Think We're Alone Now, starring Peter Dinklage and Elle Fanning, made its debut at the 2018 Sundance Film Festival.
Global Road’s television division focuses on creating both scripted and unscripted content for domestic and international audiences. Among its projects in development are Cat's Cradle, a limited series by Noah Hawley for FX; the dark comedy Kilroy County for Showtime; Jenji Kohan’s drama series American Princess for Lifetime; the drama Muscle Shoals, executive produced by Johnny Depp for ABC; crime drama Cold Courage; an adaptation of Rain Pryor’s comedy show Fried Chicken and Latkes; crime series Jett featuring Carla Gugino for Cinemax; reality cooking competition Fridge Wars for CBC; and worldwide rights to the game show Idiotest.
In January 2018, Global Road entered a development agreement with New Nation Networks, led by Reginald Hudlin and Byron Phillips, to create original programming. The company also secured a first-look television deal with Offspring Entertainment, headed by Adam Shankman and Jennifer Gibgot, unveiling projects such as Wolfgang, inspired by Mozart’s life, and an untitled comedy from Carlos Pena Jr. and Alexa PenaVega. Furthermore, Global Road established co-development partnerships with French producer Newen and Ukraine's Film.UA Group.
Financing issues
In August 2018, Global Road’s film division was taken over by its primary lenders, Bank of America and East West Bank, after founder Donald Tang was unable to secure adequate funding. While the lenders permitted the release of A.X.L., they halted distribution of City of Lies, which was slated for September 7, 2018. Following the underwhelming box office performance of A.X.L., layoffs were implemented without severance pay as mandated by the lenders. The company attempted to sell several forthcoming films including Paws of Fury: The Legend of Hank, City of Lies, The Silence, Duck Duck Goose, Arctic Justice, and Playmobil The Movie, while discontinuing development on The Secret Garden. Additionally, Global Road along with TV rights distributor Miramax faced litigation from lender Bank Leumi over loans related to City of Lies.
On September 6, 2018, Global Road's film unit filed for Chapter 11 bankruptcy protection. By October 23, it had proposed an auction of its assets beginning November 7, featuring a stalking horse bidder offering $800,000 for expense coverage plus a $2.1 million fee for outbidding rights, subject to court approval. Due to limited interest at auction in November 2018, Open Road agreed to be acquired by Raven Capital Management for $87.5 million pending judicial consent. The Delaware bankruptcy court approved this sale on December 19, 2018, with the transaction finalized on February 7, 2019.
Open Road Films (revival)
In June 2020, Open Road Films announced its revival during the virtual Cannes event, enabled by a recapitalization effort led by Raven Capital. Leadership was entrusted to Raven principal James Masciello, with significant contributions from Matt Sidari. The company formed a collaboration with Briarcliff Entertainment, headed by its founder Tom Ortenberg, to acquire and distribute films, beginning with Honest Thief. Additionally, Raven provided funding to Sculptor Media, establishing it as a partner for development and production initiatives.
Management
Following Eric Hohl's exit in August 2017, Rob Friedman was appointed as chairman and CEO of Global Road. Rodolphe Buet assumed the role of president of international operations in October 2017, while Lynn Harris took on the position of president of worldwide production the next month. Early 2018 saw Jack Pan named president of worldwide theatrical marketing.
Global Road further expanded its international team in March 2018 by bringing on Charlotte Van Weede as President of International Sales, Brad Kembel as Executive Vice President of Distribution and Operations, Melissa Martinez as Executive Vice President of International Marketing, and Sarah Genazzani as Director of International Marketing. Executive Vice President Tatyana Joffe renewed her contract to continue supporting the growing international division.
External links
- Articles with short description
- 2011 establishments in California
- 2017 mergers and acquisitions
- 2019 mergers and acquisitions
- American companies established in 2011
- AMC Theatres
- Companies based in Los Angeles
- Companies that filed for Chapter 11 bankruptcy in 2018
- Entertainment companies based in California
- Film distributors of the United States
- Film production companies of the United States
- Former joint ventures
- Mass media companies established in 2011
- Regal Entertainment Group
- Companies of the United States by year of establishment
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