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In page Roger Corman:

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Under the terms of the contract, he agreed to stay on as consultant for two years and to provide New World with at least five films they could release. New World agreed to distribute all of Corman's films until March 1984. He set up a new production company, Millennium - the title of which was taken from the name of a 1981 retrospective of Corman's work at the National Film Theatre of London. He announced plans to make films budgeted between $2–5 million using cash from his sale of New World to finance personally. He announced an intention to make less commercial films, movies more like I Never Promised You a Rose Garden and Cries and Whispers.