In 1998, producer-director Ivan Reitman teamed with lawyer-turned-studio chiefTom Pollock, 67, to create the Montecito Picture Co., named after the community near Santa Barbara where they lived. Eight years later, they became the first producers to line up about $200 million in private equity to back their movies (through a side company called Cold Spring Pictures). Their slate has been unusually successful, with hits including Disturbia (2007) and Oscar nominee Up in the Air (2009), directed by Jason Reitman.
January’s No Strings Attached, the first movie that Reitman, 64, had directed in five years, grossed more than $100 million worldwide on a budget of $25 million for Paramount, where the longtime friends are based. But they also make movies at other studios, including Reitman’s planned Ghostbusters III for Sony — if Bill Murray ever gets around to reading the script.
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