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While James Marsh’s film The King plays at the Festival de Cannes, the Hollywood Reporter relays this odd bit of news regarding ContentFilm, Ed Pressman and John Schmidt’s company that produced the pic:

“Edward R. Pressman, co-chief executive officer of London-based ContentFilm PLC, and co-chief executive officer John Schmidt are going their separate ways after four years together. The board of directors of ContentFilm, which went public in December 2003, has voted to abandon film production and continue forward as a library acquisitions company. Schmidt will run the company, which has agreed to buy Fireworks International’s film and television library of 280 titles from CanWest Global Communications Corp. for $29 million. ContentFilm’s board of directors is expected to approve the deal this week. ‘Content is going out of the production business,’ confirmed Pressman, who will remain on the board as one of the company’s largest shareholders. ‘Production has a different timeline than library acquisitions. I hope the new strategy makes the company profitable and boosts its share value.'”

Producers — nix Content from your submission logs!

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