Ten years ago a small British film company relegated one of its scripts to a storeroom after investors were unable to see its potential. But this month The Water Horse has been a big hit in the United States.
The film, which stars Emily Watson, Ben Chaplin and David Morrissey, has taken $40 million (£20 million) since it opened a fortnight ago, before its release in Britain next week.
The story – inspired by the Loch Ness monster – has been hailed as the next ET. The Water Horse: Legend of the Deep is based on a story by Dick King Smith, the British author whose work was adapted for Babe, which is about a sheep-herding piglet.
One of the new film’s producers, Robert Bernstein of Ecosse Films, told The Times: “$40 million is a great result for a little British company. It’s a British subject, a British cast and British lead producers.”
He said that Miramax had bought the rights a decade ago, only to decide against going further. Asked what reason was given, Mr Bernstein said: “You never get a reason.” Losing all hope, Ecosse sent the script to storage.
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It was the interest of the American film-maker Jay Russell that got the film off the ground, with $50 million from investors.
Mr Bernstein said Miramax was unaware that Mr Russell even knew of the script. Mr Russell said: “I look for stories that say something about the human spirit. Because this tale taps into the universal themes of magic and friendship, it applies to anyone of any age.”