NEW YORK — Vestron Pictures, a new film production and distribution company, has been launched by Vestron Video, a leading distributor of videocassettes. Details are expected to be announced at a press conference here today.
The company, to be based in Vestron's worldwide Stamford, Conn., headquarters, with a small staff operating out of Los Angeles, plans to produce, acquire and distribute feature films "in the neighborhood of $5 million and under," according to Susan Senk, vice president of publicity and promotion for Vestron Video. Ten to 12 releases are planned during the first year of operation, with a theatrical premiere and "a traditional release in all other media."
It was also confirmed Monday that Vestron Pictures' initial theatrical release, scheduled for later this year, will be an Australian acquisition, "Rebel," starring Matt Dillon and Bryan Brown.
Executives named to run Vestron Pictures are: William J. Quigley, senior vice president, Vestron Pictures, formerly with the Walter Read Organization; Mitchell Cannold, vice president, production, formerly with EMI Films and the Ladd Co., and Ruth Vitale, currently senior vice president, feature film programming, Vestron Video. All will report to Jon Peisinger, president and chief operating officer of Vestron Inc.