Are Icon U.K.'s large plans crashes?

2 yrs after Len Blavatnik's Access Industries bought Icon's U.K. distribution and foreign sales procedures, with large intends to expand Icon all over the world, all signs appear to point that Access's excitement using the film biz is cooling. The grand plans for Icon's global expansion have lengthy been abandoned, while a proper alliance introduced last year using the Weinstein Co. originates to nothing. Now Blighty's film biz is abuzz with reviews that Access is shopping Icon's U.K. library to potential purchasers, following a distrib's recent weak performance. The potential purchase of this library, including game titles for example "Drive," "Just One Guy" and "Precious," could leave Icon to merely target the foreign sales business. However, the organization can also be battling to draw in new projects because of its worldwide arm, with Access supplying only limited support. Possibly it's the U.S.-based industrial group has bigger seafood to fry. The organization acquired Warner Music in May for $3.3 billion, and it is the favorite to snap up EMI's recorded music arm, that has been put on the market by Citigroup. Icon is really a small concern in comparison, and Access appears reluctant to get more cash or management amount of time in growing the company. Access and Icon won't comment. Only one insider verifies Access is available to offers because of its U.K. distribution arm: "It's like among individuals stuff you have that does not create a massive difference for you, and you need to sell but only when the cost is appropriate.Inch Icon's U.K. arm looks looking for its worst year in the box office since 2006. Having a gross of seven.4 million ($11.8 million) to date, the organization is going to be lucky to create 1 / 2 of its 2010 and 2009 box office takings, which sitting at $26.3 million and $26.8 million, correspondingly. While Icon U.K.'s 2010 slate was peppered with a few moderately effective releases, including "Fringe of Darkness" ($5.9 million) and "Just One Guy" ($5.a million) there have been a slew of misses too, including Gurinder Chadha's "It is a Wonderful Afterlife" ($1.5 million) and "This Area,Inch ($1.9 million). To date this year, only two photos have passed the a million ($1.5 million) mark: "Drive" ($4.a million and counting) and "West Is West" ($4.3 million). Some rival distribs even say these were contacted by Access as lengthy as six several weeks ago to evaluate the need for the U.K. library. 2 yrs ago, underneath the direction of former PolyGram and UIP topper Stewart Till, the intention was to setup Icon being an worldwide distribution network that may rival the kind of other major indies within the European market and additional afield. The backing of Blavatnik, a Russian-American billionaire, combined with Till's expertise signaled what appeared to become a large future for the organization. Till started the tires of countless distribs in Italia, The country, France and Germany, but tend to not find appropriate purchases in a realistic cost. Simultaneously, a number of U.K. theatrical foibles cooled the enthusiasm of Access for more expansion within the distribution business. Last year, Access told Till to retreat to Blighty and concentrate on fixing the U.K. procedures and accumulating the foreign sales arm. However, it was not what Till, an advocate from the multiterritory distribution philosophy, wanted. So he moved from Boss to some part-time role as chairman, while Hugo Grumbar and Ian Dawson grew to become joint controlling company directors, with Grumbar handling worldwide sales and Dawson the U.K. operation. In The month of january, Icon let go 15% of their staff. In order to spend less, certain pivotal roles were merged including mind of home theatre and mind of selling. Gossips were rife that Grumbar and Dawson received annually to exhibit results or the organization could be shut lower. Since that time, Icon's worldwide sales operation has handled photos for example "Coriolanus," that was offered to TWC in Berlin, Sundance hit "Project Nim" and also the yet-to-be launched Mel Gibson pic "The Way I Spent My Summer time Vacation." This past year, prior to the American Film Market, Icon introduced it had been starting a brand new film financing alliance using the Weinstein Co. Twelve months later, however, and also the relationship has borne no fruit. Indeed, within the last year, Icon appears to possess spent additional time tugging from deals than consummating them. A week ago, Icon went into arbitration with River Road Entertainment, the producers of Terrence Malick's "The Tree of Existence," after rescheduling an agenda in April to distribute the pic in Blighty. The U.K. distribution company's most critical acquisition this season continues to be the reduced-budget horror pic "You are Next," which Icon pre-bought for any low-substantial sum from HanWay Films at Cannes. The horror-thriller was among the buzz game titles at Toronto this season, supplying a lot more than 30 areas Lionsgate clicked up U.S. privileges inside a low seven-figure deal. But Icon's U.K. release follows the U.S. release, which is not skedded until the coming year. "It is a crowded landscape within the U.K.," states one source. "And Access don't appear to become giving Icon the backing and support they have to make themselves a formidable player. Possibly it is a question of expertise and infrastructure, but gossips are rife the ones are reluctant to provide them films due to that." Excerpted in the March. 31-November. 6 edition of weekly Variety. For that full version, visit Variety.com Contact Variety Staff at news@variety.com