The government's screen agency would invest $3.25m in the $14.94m film and waive its condition that either Timothy Dalton or Sam Neill be cast in the lead role.
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More than $500,000 in prize money is now available for filmmakers at local festivals.
Attendees at next month's Brisbane International Film Festival (BIFF) will be treated to the Gold and Silver Lion-winning films from this year's Venice Film Festival, with Pedro Almodóvar's 'The Room Next Door' and Brady Corbet's 'The Brutalist' confirmed as special presentations for the event.
Next month's SXSW Sydney will host the Australian premieres of upcoming horrors 'The Front Room' and 'Smile 2', along with dark comedy 'Nightbitch', and Saturday Night Live biopic 'Saturday Night'.
Australian kids film 'Runt' has posted the third biggest opening weekend among local films this year after grossing $615,813 at the local box office.
A confidential government document shows how quickly the classic film became profitable.
Andrea Solonge, Charles Wu, Taj Aldeep, Kartanya Maynard, Will McDonald, and Ezekiel Simat are the finalists for this year's Heath Ledger Scholarship after being selected from a record number of entries.
Baz Luhrmann has reportedly begun casting his latest film, Jehanne (or Jehanne d’Arc) about the patron saint of France, Joan of Arc, raising the prospect of another big Australian shoot.