25/09/2002 - Signpost Films to shut down their international sales arm and focus instead on production & direct distribution

Signpost Films, the London-based worldwide production and distribution company headed by Stewart Till - former president of international activities at the now-defunct PolyGram Filmed Entertainment - is closing down its international sales arm, and letting-go key London executives like Darryl Iwai, president of worldwide distribution, Nicole Mackey, president of sales and Charlie Bloye, head of sales.
Backed by Montreal-based pension fund, CDP Capital Communications and Los Angeles-based Mosaic Media Group/b> with an estimated Euros300m budget, Signpost Films will concentrate on production and direct distribution.
Launched last autumn with the intent to rebuild a “new” PolyGram Filmed Entertainment, Signpost Films announced it would distribute between five and six films in 2003 (each budgeted between Euros5 million and Euros70 million) either directly or through partnerships in key territories.
On the international front Signpost’s Canadian distribution operation was aborted just weeks after being launched, although a deal with Australia’s Hoyts was reached. During the last Cannes festival, Signpost negotiated pre-sale deals for high profile projects like Bulletproof Monk, by Paul Hunter, a John Woo-Charles Roven-Terence Chang co-production, and House of Sand and Fog starring Jennifer Connelly and Ben Kingsley and directed by Vadim Perelman. Signpost also struck a co-funding deal for this title with America’s Cobalt Media Group, who will also handle foreign distribution.