Cannes glimpses much publicized Scorsese film

Parade magazine contributing editor Sandy Kenyon spoke to CNN's Paula Zahn on Monday from Cannes, France.

Editor's Note: CNN Access is a regular feature on CNN.com providing interviews with newsmakers from around the world.

(CNN) -- Martin Scorsese's long-awaited and still unfinished epic, "Gangs of New York," debuted on Monday at the Cannes Film Festival in the south of France.

The audience only caught a glimpse of the movie during a 20-minute screening. Still, the star-studded preview was one of the festival's main events.

CNN anchor Paula Zahn spoke with Parade magazine contributing editor Sandy Kenyon on Tuesday about his glimpse at Scorsese's screening.

PAULA ZAHN: How is the festival going?

SANDY KENYON: It's doing great, Paula, and it's great to talk to you from the south of France. Of all of the attractions at the Cannes Film Festival, the preview for "Gangs of New York," a picture that as you mentioned isn't even finished yet, has caused perhaps the most excitement.

RESOURCES • EW.com: All about 'Gangs of New York'  • EW.com: All about Martin Scorsese

It cost at least $100 million to go back in time to recreate Manhattan in the mid-1800's, when immigrant gangs fought a long, violent war for control of the streets. Director Martin Scorsese, who is a native New Yorker, says this film has been in his mind and his heart for a quarter of a century, and he brought along stars Cameron Diaz and Leonardo DiCaprio for a preview of the film.

'Gangs' stars speak

Leonardo DiCaprio

LEONARDO DICAPRIO: It's a really unique time in our history, and it was so affected by the Civil War and the hoards of immigrants coming in from the potato famine, and it was the birth of our country basically.

CAMERON DIAZ: You are working on a film that is completely -- you know, the scale of it, you can't even grasp why you are there. There is so much happening.

KENYON: There was talk this epic was too long and way too expensive. It was originally set for release the end of last year. Producer Harvey Weinstein [Miramax chairman] defended Scorsese, and said reports of arguments between them were exaggerated.

HARVEY WEINSTEIN: This was a labor of love. Hopefully, you know, there will be a movie that you love, you know, at the end of the day. But for us who made it, you know, and that's all of us, we love working on it. We love being a part of this process.

KENYON: Now, I spoke with Leonardo DiCaprio last night at a private party for the cast and crew of "Gangs of New York." And he told me that when he saw the preview here at the Palais on the giant screen four stories tall, he told me one-on-one, chills went up his spine. Yes, he is an international film star. Yes, the folks love him. Yes, he makes $20 million a movie, but the chills went up his spine, Paula, when he saw that preview in front of some 4,000 people here at the Palais in Cannes.

ZAHN: What else did he tell you about the making of this movie and all of the concerns about cost overruns and whether it's going to be a hit after all?

KENYON: Well, basically it is a tremendous risk, but they got a lot of money from abroad. It's 100 million plus, 60 million plus comes from foreign territories. So there are some limits there.

Cameron Diaz

There were reports that no one is confirming that Leonardo DiCaprio actually agreed to forgo a fee here, a fee there, you know, kicked in a few million dollars to help finish the movie, but he wouldn't say anything about that. He did say it's a different world here, very crazy, and of course, a lot of people around the world wanting his attention, because this is his first epic since his "Titanic" success.

No hit since 'Cape Fear'

ZAHN: I don't know. Somehow I don't think Americans have a great deal of empathy about his earning capacity. I think that's all but sealed, because his films have done so well. Tell us a little bit about Martin Scorsese and what's at stake for him. He really hasn't had a hit since "Cape Fear," right?

KENYON: Absolutely, and that was more than a decade ago, Paula. In actual fact, this is a story that he has nurtured. Martin Scorsese grew up in the lower east side of Manhattan. He heard tales from the 1800's, and he always wanted to tell this story of immigrant gangs. This is either a masterpiece or a bomb. You really can't tell from the preview.

You can tell that there is fantastic chemistry between the two leads, Leonardo DiCaprio and Cameron Diaz. Daniel Day-Lewis, who is not here in Cannes, he doesn't do this sort of thing, a man who spent two years as a cobbler in Rome before resuming his acting career, he is terrific in it too.

It's going to be a big hit or a big miss. I know there is not that much to go on from that advice, but we have only seen 20 minutes. The chemistry between these two stars, amazing. We'll have to see around Christmas. It was delayed in part due to September 11, a lot of violence, very violent movie. And of course, in this picture back in the 1800's some corrupt policemen, some corrupt firemen. So the decision was made to show the film Christmas 2002. It got a really good response here though.