A turnaround or turnaround deal is an arrangement in the film industry, whereby the production costs to a project which one studio has developed are declared a loss on the company's tax return, thereby preventing the studio from exploiting the property any further. The rights can then be sold to another studio in exchange for the cost of development plus interest.
Michael Cieply defined the term in The New York Times as "arrangements under which producers can move a project from one studio to another under certain conditions".
References and notes
- Michael Cieply (2008-08-23). "The Murky Side of Movie Rights". The New York Times.
- Michael Cieply (2008-08-29). "Studio War Involving ‘Watchmen’ Heats Up". The New York Times. Retrieved 2008-09-01.
- David Edelstein interviewed by Terri Gross on review of Argo: (2012-10-12) http://www.npr.org/templates/transcript/transcript.php?storyId=162785168
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