4 weeks ago
EXCLUSIVE: An indie movie shocker connected nan eve of nan Cannes marketplace pinch news that Alex Walton is exiting WME Independent, which is discontinuing its world income operation.
After a five-year tally arsenic co-head, Walton, nan well-liked Brit vet, will group up his ain movie financing, production, and income task soon aft Cannes. That should beryllium fresh to rotation travel AFM. A fistful of nan world squad will time off WME Independent, immoderate to subordinate Walton astatine his adjacent stop. It’s apt location will besides beryllium immoderate transportation complete of projects from nan WME slate into Walton’s adjacent operation.
Deb McIntosh now segues to go sole caput of nan WME income explanation wherever she and remaining squad will proceed to waste home connected projects. At Cannes, location won’t beryllium immoderate world dealmaking but nan home slate includes marquee projects for illustration Park Chan Wook’s starry marketplace title The Brigands of Rattle Creek and show play The Man I Love from Ira Sachs.
As it dispenses pinch its in-house world operation, WME’s home income limb will now look to modulation to a building person to that of CAA Media Finance, which doesn’t waste world in-house but has strategical partnerships pinch aggregate overseas sellers. For McIntosh’s outfit, these could see nan UK-based Walton’s adjacent institution and nan recently launched Manifest, which is co-headed by erstwhile WME income exec Zack Glueck.
WME Independent precocious saw films like Bugonia and Train Dreams nominated for Academy Awards, and internationally sold precocious floor plan projects like Nuremberg, Normal, and upcoming releases specified as Death of Robin Hood and Power Ballad.
But it’s a reliable marketplace retired there. The world income business has been successful evolutionary mode for immoderate time. Miramax is different U.S. outfit that shed its world income cognition successful favour of a different exemplary successful caller times.
That said, some Walton and McIntosh stay bullish. The brace some spot opportunities successful their caller iterations, pinch Walton being capable to some create projects and pull extracurricular finance, which WME tin past perchance partner on.
The erstwhile said: “We are proud of each that we person accomplished internationally at WME Independent, and earlier that, Endeavor Content. As the market continues to evolve, we look guardant to moving pinch Alex connected behalf of our clients arsenic we support them successful making independent films and helping them scope a world audience. We are excited for Alex successful this adjacent chapter.”
Walton added: “My time at WME has been some invaluable and meaningful and I’m grateful to person been portion of a institution truthful afloat of endeavor and drive. Working alongside Deb and this outstanding squad has been a genuine pleasure. As I look ahead, nan infinitesimal feels correct to prosecute a caller task and I’m excited to create thing that tin continue to support and partner pinch the WME team successful a caller way.”
Walton and McIntosh person been laying nan ground-work for nan modulation for a small while and we understand galore partners connected their projects person been informed of nan changes. We’re told this fistful of exits is not connected to nan cuts astatine nan agency we reported connected successful March.
Over his 25-year career, Walton has worked astatine companies including HanWay, Exclusive Media and Paramount Vantage; he co-founded Bloom pinch Ken Kao; and went connected to co-lead Endeavor’s movie group, earlier teaming pinch WME/Endeavor lifer McIntosh successful 2021 to co-run WME Independent.
