EXCLUSIVE: An indie film shocker on the eve of the Cannes market with news that Alex Walton is exiting WME Independent, which is discontinuing its international sales operation.

After a five-year run as co-head, Walton, the well-liked Brit vet, will set up his own film financing, production, and sales venture soon after Cannes. That should be ready to roll come AFM. A handful of the international team will leave WME Independent, some to join Walton at his next stop. It’s likely there will also be some carry over of projects from the WME slate into Walton’s next operation.

Deb McIntosh now segues to become sole head of the WME sales label where she and remaining team will continue to sell domestic on projects. At Cannes, there won’t be any international dealmaking but the domestic slate includes marquee projects like Park Chan Wook’s starry market title The Brigands of Rattle Creek and festival drama The Man I Love from Ira Sachs.

As it dispenses with its in-house international operation, WME’s domestic sales arm will now look to transition to a structure closer to that of CAA Media Finance, which doesn’t sell international in-house but has strategic partnerships with multiple foreign sellers. For McIntosh’s outfit, these could include the UK-based Walton’s next company and the newly launched Manifest Pictures, which is co-headed by former WME sales exec Zach Glueck.

WME Independent recently saw films like Bugonia and Train Dreams nominated for Academy Awards, and internationally sold high profile projects like Nuremberg, Normal, and upcoming releases such as Death of Robin Hood and Power Ballad.

But it’s a tough market out there. The international sales business has been in evolutionary mode for some time. Miramax is another U.S. outfit that shed its international sales operation in favour of a different model in recent times.

That said, both Walton and McIntosh remain bullish. The pair both see opportunities in their new iterations, with Walton being able to both develop projects and attract outside finance, which WME can then potentially partner on.

McIntosh said: “We are proud of all that we have accomplished internationally at WME Independent, and before that, Endeavor Content. As the market continues to evolve, we look forward to working with Alex on behalf of our clients as we support them in making independent films and helping them reach a global audience. We are excited for Alex in this next chapter.”

Walton added: “My time at WME has been both invaluable and meaningful and I’m grateful to have been part of a company so full of enterprise and drive. Working alongside Deb and this outstanding team has been a genuine pleasure. As I look ahead, the moment feels right to pursue a new venture and I’m excited to create something that can continue to support and partner with the WME team in a new way.”

Walton and McIntosh have been laying the ground-work for the transition for a little while and we understand many partners on their projects have been informed of the changes. We’re told this handful of exits is not connected to the cuts at the agency we reported on in March.

Over his 25-year career, Walton has worked at companies including HanWay, Exclusive Media and Paramount Vantage; he co-founded Bloom with Ken Kao; and went on to co-lead Endeavor’s film group, before teaming with WME/Endeavor lifer McIntosh in 2021 to co-run WME Independent.