The storied distributor’s films had been put up against a loan, which
is now in default. “We are in total shock that after forty three years
this has happened,” the distributor wrote in an e-mail on Monday to the affected
Although the label’s influence had siphoned off in recent years amid
increased competition after a peak in the later ’60s and ’70s, it still
owned rights to movies as famous and essential as Jean-Luc Godard’s Breathless.
Dan Talbot, the 82-year-old giant of art-house cinema who opened the
company in 1965, told The New York Times that those films could have a
new owner by next week.
SpoutBlog has around-up of industry and onlooker reactions.
As overcrowded independent markets and depressed DVD sales take
their toll on indie distributors, stories like New Yorker’s will become
increasingly common. In recent years, Paramount and Warner Bros.
absorbed and effectively shut down their small-run divisions, including
Warner Independent, Picturehouse and Paramount Vantage.
News: Warner Bros. plans to lay off 10 percent of worldwide staff
News: Paramount absorbs indie studio