Entitled Gotti, the film was set to be released by Lionsgate in America, who scheduled a December unveiling for the project, ahead of it getting a video on demand slot.
He claimed that he has experience with producing and distributing films, so he understands Travolta's frustration that the distributor didn't think of a way to promote the movie. We signed this deal about three weeks ago, to purchase back the film from Lionsgate.
The feature film directorial debut of Entourage star Kevin Connelly, Gotti showcases what is described as a breakout performance Travolta as the Teflon Don, head of the Gambino crime syndicate that became the racketeering/loansharking/murder-extortion scourge of '80s NY.
Travolta said Gotti is worth a more significant release and so he sought out Edward Walson to buy out Lionsgate for the rights to distribute and promote the film. "We didn't anticipate this speculation that is so grossly wrong".
"All these reports are saying the studio "dropped" Gotti and John Travolta, that's 100 percent false", says the film's executive producer Keya Morgan. Travolta has played criminals and gangsters before, but he doesn't exactly scream "mob boss", while E from Entourage isn't exactly Martin Scorsese when it comes to bringing the necessary gravitas to this sort of project, and the decision to shoot this most NY of stories mostly in Cincinnati didn't bode so well either.
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"Unfortunately, the reports were speculation bordering on fake news", the actor told Deadline.
John Travolta as John Gotti in 'Gotti'.
Arnold said it is likely Travolta and his backers and had to pay Lionsgate for whatever they put forward on the film - and maybe then some - in order to free them of any debt.
"It's very expensive not to release a film". "I've seen the frustration that sometimes happens when distributors don't think of out-of-the-box ways to promote a movie, let alone spend any P&A money", he told Deadline.
Lionsgate did not immediately respond to a Daily News request for comment.
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