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A turnaround or turnaround deal is an arrangement in the film industry whereby the production costs of a project which one studio has developed are declared a loss on the company's tax return, thereby preventing the studio from exploiting the property any further. The rights can then be sold to another studio in exchange for the cost of development plus interest.
Michael Cieply defined the term in The New York Times as "arrangements under which producers can move a project from one studio to another under certain conditions".
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