In 1991, Krishna Shah acquired the Double Helix Films library from Odyssey Entertainment through a $3.6 million IOU arranged with the involvement of his brother-in-law, N. Norman Muller, who was then Odyssey’s chief executive. Shah became president of Double Helix and attempted to build the company into an international low-budget distribution force, promoting its titles through lavish market newsletters and sales campaigns at events such as Cannes, MIFED, MIPCOM, and the American Film Market. The operation became notorious among market attendees for extravagant, sometimes fictitious descriptions of its films, which were reportedly read and mocked on the Croisette. The financial structure collapsed when Shah defaulted on the IOU in 1993. The Double Helix library was subsequently sold to ATC II, Inc., and the company became entangled in multiple lawsuits, including litigation between Shah and Muller. A successor operation, Carnegie Film Group, emerged from Double Helix’s remains but also faced lawsuits before closing in 1995.
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