More Money for the Rings
According to an article in yesterday’s Sunday Star Times (NZ) New Line has given the film trilogy another $100million, in what currency it doesn’t say. The funding boost will take the film’s budget up to NZ$360million from NZ$260million, so assume that it’s another $US50million that’s been added.
New Line had accepted that the original budget would be over-run, said an industry source. There is some talk in the newspaper article about the fact that some tax laws have been changed in NZ and this has meant that the film’s finances cannot take advantage of as favourable a tax environment as had been hoped. There is no official comment from the film company about the new budget so the newspaper may be guessing that it has something to do with the changes in the way film investors are taxed.Posted in Old Main News on July 11, 1999 by Tehanu