News broke late Tuesday that Lionsgate had cancelled the upcoming premiere, prompting many to speculate about why.
Travolta told Deadline that he was unhappy with their release plan, believing the film deserved wider theatrical distribution. He found a new financier, producer Edward Walson, who produced “Blue Jasmine,” “Wonder Wheel,” and a number of Broadway plays.
“Unfortunately, the reports were speculation bordering on fake news. Lionsgate was planning on a minimal release, and I did an investigation into people who might have the interest and financial wherewithal to better release it. Ed is a fan of mine and of the Gotti story and really wanted to see the movie. I invited his group, they saw it and bought it. That is the simple explanation for this. It wasn’t dropped. It wasn’t easy to get Lionsgate to give it up. They said no, twice, and I literally begged them to reconsider and they finally and generously let it go. We signed this deal about three weeks ago, to purchase back the film from Lionsgate. Our mistake was we should have said something right then and discussed our plan for the film. We didn’t anticipate this speculation that is so grossly wrong.”
“Gotti” is the tale of The Teflon Don, John Gotti. From his rise to head of the Gambino Crime Family, to his eventual death in prison, the film explores the life and relationships of one of the best known New York mafia bosses.
The film stars Kelly Preston, Spencer Lofranco, Stacy Keach, and Pruitt Taylor Vince. Former “Entourage” star Kevin Connolly directed from a script by Lem Dobbs and Leo Rossi.
There is no word yet on when the film will be released.