Flashback to 1992. Neue Constantin Films of Germany had owned the film rights to the FF property for several years but these rights were to expire on December 31st and revert back to Marvel. Neue Constantin wished to renew their option but were denied by Marvel who, up to this time, had yet to experience any success with adapting their characters to the big screen. There was the ill-fated Punisher film with Dolph Lundgren and the direct-to-video Captain America production. Conan the Barbarian (starring Arnold Schwarzenegger in the role that made him a household name) was considered the only bright star in Marvel's stable. Times were changing though and it appeared Marvel was intent on regaining control of their flagship title.
In order for Neue Constantin to retain their option, they would need to rush into production before year's end. They entered into a partnership with Concorde Pictures in the Autumn of '92 and under the helm of B-movie king, Roger Corman, a paltry budget was raised. Principal shooting of the first Fantastic Four movie commenced on December 28, 1992.
Assigned to the directorial reins was Oley Sassone - son of famous hair product mogul Vidal Sassone. Once principal photography wrapped in late January 1993, it was still a long path before the film made its way to "opening night." A night that Sassone and company would unknowingly never experience.
Roger Corman: "Berndt Eisinger, the German producer, had the rights to The Fantastic Four and he was going to make it on about a $40 million budget but couldn't raise the money and his option was going to run out in three months. If he didn't start the picture, he would lose his option. So he came to me and said, "I didn't get my $40 million. How much can you cut this budget to and let's make it together at your studio." So we figured out a budget and we cut it from $40 million to $1.4 million and made it."
"...Avi (Arad) calls me up and says, 'Listen, I think what you did was great. It shows your enthusiasm for the movie and the property. I understand that you have invested so-and-so much and Roger has invested so-and-so much. Let's do a deal.' Because he really didn't like the idea that a small movie was coming out and maybe ruining the franchise. So he says to me that he wants to give me back the money that we spent on the movie and that we should not release it."
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