Blair Witch Project was an independent film that cost roughly $25,000 to produce. The movie went on to become a worldwide phenomenon bringing in $248 MILLION. Well, the 1.1 Million that Artisan paid to acquire rights to the film was not enough to keep Executive Producer, Kevin P. Foxe from filing bankruptcy.
Kevin P. Foxe filed the Chapter 7 papers this month in bankruptcy court in California
Kevin says he has $100 in cash on hand, $500 worth of household furnishings, $100 worth of personal clothing, and $200 in sporting equipment (bicycles, soccer balls, etc.) … $900 total.
“Blair Witch” is one of the most profitable movies EVER based on return on investment. The movie’s principal photography cost a mere $25,000 … and it went on to make $248 MILLION worldwide.
Foxe has produced over ten projects since the 1999 hit. It’s unclear what went wrong.