2 Film Firms Strike Distribution Deal

TV commercial producer Harmony Pictures is moving into feature film production via an international distribution agreement with Hit Entertainment, a 2-year-old independent production and foreign distribution company. Los Angeles-based Harmony will produce six films over the next three years, budgeted at $5 million each or less and financed primarily by Hit, which also is based in Los Angeles. Harmony President and Chief Executive Rick Bieber--formerly president and CEO of Stonebridge Entertainment and senior vice president of HBO Pictures--said the deal makes Harmony the only TV commercial production company with the ability to green-light production of feature films with international distribution in place. “We’ll be looking for special projects, not just cookie-cutter formula pictures,” Bieber said, adding that he is in discussions with other companies regarding domestic and TV distribution of the films.