Sony Drops Pitt for Clooney?

So maybe Pascal’s perspective on Moneyball was colored by the fact she is wagering a fortune on a romantic comedy that isn’t about baseball but still has some proximity to the sport. The truth is that even if it this movie works, the chances that it can earn its money back seem to be minuscule to nonexistent.

The ebullient Pascal has long been known as the talent-friendliest executive in the business. She is nurturing to talent but also indulgent—especially with high-maintenance directors. “She coddles them,” a filmmaker told me some while back. “She wants to be liked by them.”

Pascal permitted director Nancy Meyers to spend more than $100 million on The Holiday, which should have been a simple little romantic comedy. She also allowed Jim Carrey to blow an astounding $140 million budget on Fun With Dick and Jane—building sets from scratch, including the suburban development where Dick and Jane lived.

For some years, Sony has been laboring to keep costs down, and the studio can claim some success. But even as the cameras roll on the Brooks project, last week Pascal announced a new production deal with Clooney, who’s leaving Warner after nearly 20 years. This comes at a time when no one gets deals. Producers like Kathleen Kennedy and Frank Marshall, whose credits include the Bourne franchise and the Indiana Jones movies, didn't even have a deal after Universal let them go after 10 years there. Or they had no deal until Pascal gave them one in April at Sony Pictures.

Clooney is a handsome, charming guy with artistic ambitions and a social conscience, so how can you not be for him? But he’s another talent who has not been a draw at the box office. (You don’t get to count ensemble movies that also have Brad Pitt and Matt Damon in them.) Clooney is a star, but it’s arguable whether he’s a movie star, and a whole lot of money sank into the pit with Good German and Leatherheads.

Pascal acknowledged the tenor of the times as the announcement was made. “While we have been trimming production deals overall for the last few years, we see real value in opening our doors to producers with their critical and commercial track record and their artistic point of view,” she said.

Perhaps this deal isn’t really worth that much money. And perhaps Pascal has good reasons for giving Clooney a home. “She’s too smart to make an overall deal with Clooney so she can have dinner with him—and believe me, there was a time when people did that,” says a veteran producer.

As for Clooney, he seems to be a pragmatic guy. He’s doing Up in the Air for a reduced fee, pairing him with hip Juno director Jason Reitman in a movie, to be released by Paramount next January, that costs only $25 million. Clooney also appears to be looking for his next commercial opportunity now that the Ocean’s franchise seems to be played out. A source says he expressed interest in playing Jack Ryan when and if Paramount attempts to revive the Tom Clancy series. Clooney seems to recognize that at this time in the world and this time in his life (he’s pushing 50), it’s time for some commercial maintenance.

So maybe Sony has something commercial in mind for him. Still, it seems hard to understand why he’d have to be lured with an overall deal. Like so many big talents in Hollywood these days, he’s facing a buyer’s market.

Kim Masters is the host of The Business, public radio's weekly show about the business of show business. She is also the author of The Keys to the Kingdom: The Rise of Michael Eisner and the Fall of Everybody Else.