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My Profile Top News Reuters top ten news stories delivered to your inbox each day. Subscribe You are here: Home > News > Entertainment > Article Home Business & Finance News U.S. Politics International Technology Entertainment Film Music People Television Arts Industry Sports Lifestyle Oddly Enough Health Science Special Coverage Video Pictures Your View The Great Debate Blogs Weather Reader Feedback Do More With Reuters RSS Widgets Mobile Podcasts Newsletters Your View Make Reuters My Homepage Partner Services CareerBuilder Affiliate Network Professional Products Support (Customer Zone) Reuters Media Financial Products About Thomson Reuters Toronto film festival promises deals, less glitz Tue Sep 8, 2009 4:20pm EDT Email | Print | Share | Reprints | Single Page [-] Text [+] By Cameron French TORONTO (Reuters) - The Toronto International Film Festival will pull back the curtain for its 34th edition this week, as an unofficial kick-off to the Oscars for an industry whose glitz factor has been dulled by the slumping economy. More than 330 films from 64 countries will be screened over 10 days from Thursday, up slightly from 2008. Many were financed last year before funds dried up as a result of the global financial crisis. Although participants expect fewer lavish parties, they say the festival should still be a deal-making hotbed as distributors clamor to uncover the next "Chariots of Fire" or "Slumdog Millionaire." Those films won the Oscar for Best Picture after garnering attention at the Toronto festival. As of last week, about one-third of the films on the bill this year lacked distribution rights in major territories. "My feeling is that this is going to be a very good year as far as dealmaking is concerned because there are so many unknown films that look intriguing" said Michael Barker, co-president of Sony Pictures Classics. "Every year, several of those films have always been bought. I don't think that's going to change this year." Barker, however, said he expects the value for deals to distribute top films will likely fall from past years. PEOPLE'S FESTIVAL In the past three decades, the Toronto festival has built a reputation rivaling the better-known Cannes and Sundance film festivals and has carved out a niche as the place where studios showcase films ahead of the end-of-year Academy Awards races. With Toronto offering more public access to screenings than at many other festivals, studios and distributors often are able to see how a film plays in front of a real audience. Audience approval of "Slumdog Millionaire" -- it won the festival's top award last year -- presaged the movie's Best Picture win at the Oscars. "I think Toronto's always been a really important part of opening the door to Oscar season," said Michael Schaefer, Senior Vice President of Acquisitions and Co-Productions for Summit Entertainment. Following what reviewers saw as a lackluster 2008 roster, the festival has scored high profile titles among this year's 96 world premieres, including the Coen brothers' "A Serious Man," and Drew Barrymore's directorial debut "Whip It." Other films include "Up in the Air," starring George Clooney and helmed by "Juno" director Jason Reitman, and "Get Low," starring Robert Duvall and Sissy Spacek. Continued... View article on single page Share: Del.icio.us Digg Mixx Yahoo! 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