MUMBAI: After signing a sub-distribution deal with United International Pictures (UIP) regarding all film material, Sony Pictures has decided to pull out of its distributing operation in Argentina.
As of 1 July, UIP, that distributes films of both Universal and Paramount, will handle Columbia‘s films in the country that includes the upcoming The Amazing Spider-Man.
An official announcement, pertaining to the matter, was jointly issued yesterday by Mauricio Duran, senior vice president (vp) for distribution and marketing at Universal Pictures International for Latin America, Mark Viane, senior vp at Paramount Pictures International for Latin America and Asia and Steve Bruno, senior vp of international distribution of Sony Pictures Releasing.
According to sources, Columbia wasn‘t having much success in the region and, except in cases like Smurfs or Men in Black, was releasing films as late as two months after their US release.
A similar situation occurred last year in Venezuela, when Paramount pulled out claiming the state‘s currency restrictions had made it impossible for them to do business in the country.