Another longstanding intellectual property’s rights have hit the market, drawing up major interest from producers and studios.
The day after it was revealed that WME was shopping the rights to Jason Bourne and titles from the Robert Ludlum estate comes word that the rights to venerated horror franchise The Texas Chainsaw Massacre are also available.
And while there is significant amount of interest from several parties, it’s quite in early in the process to determine who is involved and where it will land. But the participation of some bold-faced names — Texas’ favorite golden boy Glen Powell, anyone? — has some talking about a “free for all.”
Legendary Pictures had held the rights to the property since 2017 and made a movie in 2022 that streamed on Netflix. A sequel never materialized, despite hopes. The IP returned to the rights holders – Exurbia Films, which is run by Pat Cassidy, the original movie’s co-screenwriter Kim Henkel, and son Ian Henkel – who then turned to their representative at boutique agency Verve.
There is no bidding war as of yet since there is no package or take on the material. But there is plenty of interest, including players who are huddling on potential (read: potential) packages. One mentioned is the teaming of Powell, Strange Darling filmmaker J.T. Molner, and producer Roy Lee. Another named mentioned as been It filmmaker Andy Muschietti.
The original 1974 movie remains an icon of the genre. The story was one aspect – a group of friends who encounter a family of cannibals, including the chainsaw-wielding maniac known as Leatherface. The violence was anothe — the movie was banned in states and countries. And there’s the business side, which saw director Tobe Hooper make the movie for less than $300,000 and become one of the most profitable movies ever made with $31 million globally in box office.
The high interest in Texas Chainsaw underscores the value of IP not locked down by a media company. It also shows how horror remains a hot genre that will get eyeballs on screens, big or small. Earlier this year, studios went in on massive bidding war for Resident Evil, another horror play that briefly hit the market before landing at Sony.
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