Benaroya Pictures and Miscellaneous Entertainment have formed a joint venture to launch sales company International Film Trust at Cannes.
The new banner — headed by Ariel Veneziano as president — has an initial fund of $15 million to acquire and provide minimum guarantees on third party productions for international sales.
Clive Owen and Jacki Weaver from Benaroya Pictures and Eduardo Sanchez' horror thriller "Exists" from Miscellaneous Entertainment.
International Film Trust will represent feature film productions from their own banners on a non-exclusive basis along with titles from other producers and third party productions.
Veneziano will oversee the sales, acquisitions, distribution and marketing for the company. He's served at Alliance Atlantis Communications as an acquisitions exec and served as president at GreeneStreet Films International and Icon Entertainment International, working on distribution ofÂ Michael Mooreâs "Bowling for Columbine" and Mel Gibson's "Passion of the Christ."
He most recently served as president and CEO of sales-consulting banner Recreation Media, which he founded in 2010.
Christian De Gallegos has been tapped as head of sales for IFT. He worked as a VP at Voltage Pictures, handling international distribution for over 70 titles, including "The Hurt Locker," "The Company You Keep" and the upcoming "Dallas Buyers Club."
Peter Wetherell has been tapped as IFT's head of operations.
"King of the Castle" will be directed by Alessandro Tanaka and Brian Gatewood and is produced by Jonathan Gordon and Michael Benaroya. Production will start this fall in Georgia.
"Exists" is directed by "Blair Witch Project" helmer Eduardo Sanchez and written by Jamie Nash in the story ofÂ a group of friends who venture into the remote Texas woods for a party weekend only find themselves stalked by Bigfoot. Producers are Robin Cowie, Jane Fleming, Mark Ordesky and Andy Jenkins.
The deal for "Exists" was brokered on behalf of the producers by WME Global and Stuart Rosenthal at Bloom Hergott.