NEWS
Warner Bros-based Gulfstream Pictures hires 3 new executives

By Lucas Shaw

NEW YORK (TheWrap.com) - Warner Bros.-based production company Gulfstream Pictures has added three new executives to its development and production divisions, the company announced on Wednesday.

Josie Rosen, left, who produced "New Year's Eve" and "Valentine's Day" with Gulfstream co-chief Mike Karz, joins the company as Executive Vice President of development and production. Rosen has worked at Karz Entertainment, Farrell Paura Productions and 20th Century Fox.

Margaret Chernin and Matt Phelps are also joining the company as creative executives. Chernin, daughter of mogul Peter Chernin, previously worked at "Saturday Night Live" as a talent scout and booking coordinator.

Karz and Gulfstream partner Bill Bindley hired Phelps, who joins the company from Paramount, for his knowledge of action movies and thrillers. Both hires were based in genre-specific needs.

"Comedy has always been a big part of what we do," Karz told TheWrap. "We wanted someone with a strong comedy background and you can't do much better than ‘Saturday Night Live.'"

At a time when most production companies are shrinking, Gulfstream is expanding a bit thanks to outside financing. Bolstered by a development fund from Korean 3D stereoscopic company Redrover LTD and domestic private equity funds, it has a first-look deal with Warner Bros. and will co-finance some projects.

Gulfstream is in production on its first animated film, "The Nut Job," and is set to adapt Dan Gutman's book series "The Genius Files." In addition to such ongoing projects, Karz and Bindley projected a very active first quarter of the year.

"We're going to be very active in acquiring new material and we know Josie can work with writers to make it the best it can be," Karz said.

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