By Anne Thompson | Thompson on Hollywood May 22, 2012 at 1:55PM
Just what we need: more indie genre films. Indie seller Submarine Entertainment and Dakota Group Ltd. have formed the aptly named Torpedo Pictures -- a new indie label to produce low-budget, high-concept sci-fi, thriller and horror films. The label's fund will go towards projects in the $500,000 to $1.5+ million range, with a focus on emerging and established auteur directors and notable casts. Dakota will finance and Submarine will handle domestic and foreign rights.
Submarine's David Koh, Dan Braun and Josh Braun and Dakota's Stanley Buchthal state: "The initiative is to make the best movies with the best and most inventive directors at a modest budget. Our goal is to provide a platform for filmmakers to showcase their true talent given this constraint." They will announce their output and foreign partners shortly and their first slate.
Submarine's doc library is impressive, including "Bill Cunningham New York," "Buck," "Cave of Forgotten Dreams," "Man on a Wire," "The Cove," and "Super Size Me." They have sold, repped and found distribution for such films as "Winter's Bone," "A History of Violence" and "Your Sister's Sister."