→Hereditary: undue. PalmStar is not directly mentioned, not once. Tag: Visual edit |
→Legal issues: merge into history. change POV language. Add source. Tag: Visual edit |
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== History == |
== History == |
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PalmStar Entertainment was co-founded in 2004 by Kevin Frakes and Stephan Paternot. In 2010, Frakes co-founded PalmStar Media Capital with Peggy Taylor<ref>{{cite web|title=Kevin Frakes - Producer|url=http://www.focusfeatures.com/film/term_life/castncrew/+/member/kevin_frakes|publisher=Focus Features|access-date=February 5, 2016}}</ref> and Frank Pollifrone to focus on financing films.<ref>{{cite web |url=https://variety.com/2010/film/markets-festivals/zellweger-ready-for-pillage-1118020021/ |title=Zellweger ready for 'Pillage' |first=Dave |last=McNary |date=June 1, 2010 |website=[[Variety (magazine)|Variety]]}}</ref> In July 2017, PalmStar Media purchased all the assets of [[National Lampoon, Inc.]], including trademark and library of print, audio, movie, and video content.<ref>{{cite news | last=Fleming | first=Mike Jr | date=July 24, 2017 | title=PalmStar Media Closes Near $12M National Lampoon Deal; Can Laugh Brand Regain Luster? | work=[[Deadline Hollywood]] | url=https://deadline.com/2017/07/national-lampoon-acquisition-palmstar-media-12-million-dollar-deal-revive-humor-brand-1202134623/ | access-date=July 25, 2017}}</ref> |
PalmStar Entertainment was co-founded in 2004 by Kevin Frakes and Stephan Paternot. In 2010, Frakes co-founded PalmStar Media Capital with Peggy Taylor<ref>{{cite web|title=Kevin Frakes - Producer|url=http://www.focusfeatures.com/film/term_life/castncrew/+/member/kevin_frakes|publisher=Focus Features|access-date=February 5, 2016}}</ref> and Frank Pollifrone to focus on financing films.<ref>{{cite web |url=https://variety.com/2010/film/markets-festivals/zellweger-ready-for-pillage-1118020021/ |title=Zellweger ready for 'Pillage' |first=Dave |last=McNary |date=June 1, 2010 |website=[[Variety (magazine)|Variety]]}}</ref> In July 2017, PalmStar Media purchased all the assets of [[National Lampoon, Inc.]], including trademark and library of print, audio, movie, and video content.<ref>{{cite news | last=Fleming | first=Mike Jr | date=July 24, 2017 | title=PalmStar Media Closes Near $12M National Lampoon Deal; Can Laugh Brand Regain Luster? | work=[[Deadline Hollywood]] | url=https://deadline.com/2017/07/national-lampoon-acquisition-palmstar-media-12-million-dollar-deal-revive-humor-brand-1202134623/ | access-date=July 25, 2017}}</ref> |
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⚫ | In 2014, PalmStar filed a breach of contract lawsuit against Zero Gravity Management over the casting of Ben Affleck in ''[[The Accountant (2016 film)|The Accountant]]'', alleging that it shut PalmStar out of the production against co-production agreement.<ref>{{cite news |last=Gardner |first=Eriq |date=2014 |title=Ben Affleck at Center of Legal War |work=[[The Hollywood Reporter]] |url=https://www.hollywoodreporter.com/business/business-news/ben-affleck-at-center-legal-739505/ |access-date=July 25, 2017}}</ref><ref>{{Cite news |last=Reynolds |first=Matt |date=October 10, 2014 |title=Angel Sues Over Affleck’s ‘Accountant’ Movie |work=Courthouse News Service |url=https://www.courthousenews.com/angel-sues-over-afflecks-accountant-movie/}}</ref> |
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⚫ | In 2020, Kevin Frakes sued National Lampoon's former president Evan Shapiro for fraud, alleging in New York federal court that he owes more than $3 million for surreptitiously funneling the company's intellectual property and money from deals with Quibi, Disney+ and Comedy Central Digital into companies he controls. Shapiro later claimed that Frakes bullied him out of a job.<ref>{{cite news |date=2018 |title=Ex-Nat'l Lampoon Prez Claims Execs, Attys Bullied Him |work=[[Law360]] |url=https://www.law360.com/articles/1336406/ex-nat-l-lampoon-prez-claims-execs-attys-bullied-him |url-access=subscription |access-date=July 25, 2017}}</ref> |
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==''The Alchemist''== |
==''The Alchemist''== |
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PalmStar has also partnered with Anthony Bregman's [[Likely Story]] and Buddy Patrick's Windy Hill Pictures.<ref name="Aug2015THR" /> |
PalmStar has also partnered with Anthony Bregman's [[Likely Story]] and Buddy Patrick's Windy Hill Pictures.<ref name="Aug2015THR" /> |
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==Legal issues== |
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⚫ | In 2014, PalmStar filed a lawsuit against Zero Gravity Management over the casting of Ben Affleck in ''[[The Accountant (2016 film)|The Accountant]]'', |
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⚫ | In 2020, Kevin Frakes sued National Lampoon's former president Evan Shapiro for fraud, alleging in New York federal court that he owes more than $3 million for surreptitiously funneling the company's intellectual property and money from deals with Quibi, Disney+ and Comedy Central Digital into companies he controls. Shapiro later claimed that Frakes bullied him out of a job. |
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<ref>{{cite news |date=2018 |title=Ex-Nat'l Lampoon Prez Claims Execs, Attys Bullied Him |work=[[Law360]] |url=https://www.law360.com/articles/1336406/ex-nat-l-lampoon-prez-claims-execs-attys-bullied-him |url-access=subscription |access-date=July 25, 2017}}</ref> |
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== References == |
== References == |
Revision as of 18:39, 11 October 2023
PalmStar Media Capital is a film financing company based in Philadelphia. It was founded by its CEO, Kevin Frakes in 2010.[1]
History
PalmStar Entertainment was co-founded in 2004 by Kevin Frakes and Stephan Paternot. In 2010, Frakes co-founded PalmStar Media Capital with Peggy Taylor[2] and Frank Pollifrone to focus on financing films.[3] In July 2017, PalmStar Media purchased all the assets of National Lampoon, Inc., including trademark and library of print, audio, movie, and video content.[4]
In 2014, PalmStar filed a breach of contract lawsuit against Zero Gravity Management over the casting of Ben Affleck in The Accountant, alleging that it shut PalmStar out of the production against co-production agreement.[5][6]
In 2020, Kevin Frakes sued National Lampoon's former president Evan Shapiro for fraud, alleging in New York federal court that he owes more than $3 million for surreptitiously funneling the company's intellectual property and money from deals with Quibi, Disney+ and Comedy Central Digital into companies he controls. Shapiro later claimed that Frakes bullied him out of a job.[7]
The Alchemist
In 2016, PalmStar purchased the film rights of the Paulo Coelho novel The Alchemist for $6.5 million.[8] Initially, shooting was to begin in September 2021,[9] but in July 2021, The Hollywood Reporter announced that the movie adaptation had fallen apart and that the movie was no longer happening.[10]
Collaboration deals
In October 2014, PalmStar signed on a multi-year financing deal with Basil Iwanyk's Thunder Road Pictures, and according to this agreement, Thunder Road would get $200 million funds from PalmStar.[11] Thunder Road would use it to fully finance and produce five to six independent films from $20 to $50 million budget range per year.[11]
In February 2015, PalmStar signed on a deal with Dylan Sellers' Rivers Edge Films to handle all company's production and development costs, and together, PalmStar would finance four to five films for Rivers Edge with budgets between $20 million to $40 million.[12] In August 2015, PalmStar signed a deal with Jeremy Renner and Don Handfield's production company The Combine to finance two to three films per year.[1]
PalmStar has also partnered with Anthony Bregman's Likely Story and Buddy Patrick's Windy Hill Pictures.[1]
References
- ^ a b c Siegel, Tatiana (August 31, 2015). "Jeremy Renner Inks Multi-Year Producing Deal With PalmStar Media (Exclusive)". The Hollywood Reporter. Retrieved February 5, 2016.
- ^ "Kevin Frakes - Producer". Focus Features. Retrieved February 5, 2016.
- ^ McNary, Dave (June 1, 2010). "Zellweger ready for 'Pillage'". Variety.
- ^ Fleming, Mike Jr (July 24, 2017). "PalmStar Media Closes Near $12M National Lampoon Deal; Can Laugh Brand Regain Luster?". Deadline Hollywood. Retrieved July 25, 2017.
- ^ Gardner, Eriq (2014). "Ben Affleck at Center of Legal War". The Hollywood Reporter. Retrieved July 25, 2017.
- ^ Reynolds, Matt (October 10, 2014). "Angel Sues Over Affleck's 'Accountant' Movie". Courthouse News Service.
- ^ "Ex-Nat'l Lampoon Prez Claims Execs, Attys Bullied Him". Law360. 2018. Retrieved July 25, 2017.
- ^ Fleming, Mike Jr. (2016). "PalmStar Media Commits $6.5M for Paulo Coehlo Novel The Alchemist". Deadline Hollywood. Retrieved September 12, 2016.
- ^ Fleming, Mike Jr. (2021). "Paulo Coehlo's The Alchemist Gets September Start Date". Deadline. Retrieved July 25, 2017.
- ^ Galuppo, Mia (July 8, 2021). "Alchemist Falls Apart Again". The Hollywood Reporter. Retrieved August 12, 2023.
- ^ a b McNary, Dave (October 22, 2014). "PalmStar Media, Basil Iwanyk's Thunder Road Set $200 Million in Annual Financing Deal". Variety. Retrieved February 5, 2016.
- ^ Fleming, Mike Jr (February 20, 2015). "Dylan Sellers Sets Rivers Edge Films Shingle With PalmStar Media Backing". Deadline Hollywood. Retrieved February 5, 2016.