Film Adaptation
In 1981, the series was adapted as a film, starring Steve Martin. Potter adapted his own screenplay, and Herbert Ross directed. Potter was nominated for the 1981 Academy Award for Writing Adapted Screenplay — according to The Times, MGM had him rewrite the script thirteen times. By most accounts, the movie was a resounding flop, despite the contributions of Bernadette Peters (as Eileen), Christopher Walken (as Tom) and Vernel Bagneris (as 'the accordion man'). The MGM deal with Potter had multiple ramifications. Said producer Trodd in a 1990 Times article: "Bob and Cheryl were terribly upset that they weren't considered for the film. I think they still blame Dennis and me in some way, but there was no way to argue the point with MGM.'"
MGM also required Potter to buy back his copyright from the BBC (according to the same 1990 Times article, Potter paid the BBC "something over $100,000" for the script). In addition, MGM prohibited broadcast of the BBC's own production of Pennies for approximately ten years. In 1989 or thereabouts, at the prompting of Alan Yentob, the controller of BBC2, Trodd was able to buy back the rights from MGM at "a very inconsiderable sum." The BBC promptly rebroadcast Pennies in February 1990.
Read more about this topic: Pennies From Heaven (TV series)
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