Sony, Lone Star End Film Funding Deal With $50 Million Remaining
- Sony is said to consider not seeking a replacement for partner
- Films included ‘Emoji Movie,’ ‘Hotel Transylvania’ sequel
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Sony Pictures, the studio behind “Spider-Man: Homecoming,” parted ways with film-financing partner LStar Capital, which opted out of a deal to provide as much as $50 million through 2019, according to a person familiar with the matter.
The affiliate of Lone Star Funds won’t meet a Monday night deadline to provide funds for “The Emoji Movie,” a film set for July 28 release, said two people, who asked not to be identified discussing a private matter. The failure to provide those funds ended the deal. LStar’s agreement involved financing films including “Aloha” and “The Brothers Grimsby,” many of which fared poorly at the box office.