Hollywood's boss is Wall Street

Oct. 14, 2006 at 8:24 AM
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LOS ANGELES, Oct. 14 (UPI) -- Thrillers, comedies and horror films are in store as Wall Street increasingly decides what U.S. movies are seen and who makes them, it was reported Saturday.

Rather than studio chiefs, who used to cut deals over a Hollywood lunch, hedge fund managers are now greenlighting movies via New York conference calls, The New York Times reported.

Wall Street sees thrillers, comedies and horror films as having the most predictable payoffs.

Selected producers, such as Joel Silver of "Lethal Weapon" and "The Matrix" fame, get more artistic independence and a larger share of profits and the studios have less risk, the Times said.

Silver is getting $220 million in Wall Street money to produce 15 films over the next six years that he will own outright.

His first film to be released in 2008 under his deal is "White Out," an action thriller about a U.S. marshal who tracks a serial killer across Antarctica.

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